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Walter Scott hires former Alliance Trust European equity head

Walter Scott hires former Alliance Trust European equity head

Fiona MacRae has joined Walter Scott and Partners, having left her role as head of European equities at Alliance Trust last year.

She has been appointed as an investment manager at Walter Scott, although a fund launch for her is not expected imminently.

MacRae departed Alliance Trust late in 2013 after the June closure of her £60 million European Equity fund following a strategic review of the group’s product range.

The European Equity fund launched in 2009, and had returned 20.4% in the three years to its liquidation compared with 13% from the MSCI Europe ex UK index. Citywire data reveal that MacRae’s personal information ratio for the period was also 0.48, top quartile versus the peer group average of 0.25.

At the time, Alliance Trust stated that it expected MacRae to remain with the business.

Before moving to Alliance Trust in 2008, MacRae spent two years as a pan-European equity investment manager at Kempen Capital Management. Prior to that she worked at Scottish Widows Investment Partnership, Dunedin Fund Managers, and Scottish Amicable where she started her career in 1987.

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