View the article online at http://citywire.co.uk/wealth-manager/article/a740298
Foreign & Colonial awards £250m portfolio to Potter and Burdett
by David Campbell on Mar 12, 2014 at 15:20
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.’
News sponsored by:
As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
Today's top headlines
The Citywire guide to investment trusts
Investment trusts have proved to be a highly effective way to invest in the market. Citywire has interviewed the experts to find out more.
With talk on interest rates on the horizon, our latest roundtable debate covers income investing against a changing backdrop
More about this:
Look up the funds
Look up the investment trusts
Look up the fund managers
More from us
On the road
J.P. Morgan Elect on investment growth, income and cash. More information on J.P. Morgan investment trusts.
by James Phillipps on Jul 23, 2014 at 14:34