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Foreign & Colonial awards £250m portfolio to Potter and Burdett

by David Campbell on Mar 12, 2014 at 15:20

Foreign & Colonial awards £250m portfolio to Potter and Burdett

Foreign & Colonial investment trust has awarded a £250 million global equity mandate, equivalent to around 10% of its assets, to F&C’s multi-manager team, headed by Gary Potter and Rob Burdett.

The allocation comes as the venerable investment trust, the oldest fund in the UK, continues to sell down its UK exposure.

The trust has previously said it planned to approximately halve its current 21.9% exposure to UK equity.  

‘[We] will predominantly invest in a portfolio of funds that we already hold in our existing multi-manager fund range,’ said Burdett in a statement.

F&C announced at the beginning of March that Jeremy Tigue, who has managed the fund for 17 years, will step down at the beginning of July. He will be replaced by Paul Niven (pictured), currently manager of the F&C Diversified Growth and Managed Growth funds.

Niven said: ‘Gary and Rob are two of the best fund pickers in the market, with years of knowledge and experience and a strong track record of outperformance to boot.

‘They have significant experience and understanding of global strategies, and are ideally suited to managing this important sub-portfolio in future.’

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