Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Witan replaces two global equity managers

Witan replaces two global equity managers

Witan Investment Trust has handed out two global mandates with a combined value of £190 million.

New York-based Pzena will manage £145 million of the money in line with its Global Expanded Value strategy, which seeks high long-term alpha from a portfolio of 60-90 companies.

The firm, which started life in 1996 and manages more than $23 billion in assets, employs a ‘deep value’ approach incorporating fundamental research, selecting companies from within what they assess to be the best value fifth of the market and selling when they rise above the market average valuation.

Meanwhile Connecticut-based Tweedy Browne will run the remaining £45 million in accordance with its Global High Dividend strategy, which holds around 40 stocks and has an emphasis on secure and growing dividend yields.

The two mandates representing approximately 13% of the Witan Investment Trust Portfolio and replace mandates previously managed by Thomas White International and Southeastern Asset Management.

Witan chief executive Andrew Bell (pictured) said in a statement: 'These two appointments signal a continuation of our move towards investing more with specialist managers who have fundamentally-based and high-conviction approaches towards adding value through stock picking and portfolio construction.

'We would also like to thank Southeastern and Thomas White for their stewardship of the Company’s assets over the past nine and six years respectively.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Hendersons' Kerley: investing in Marmite-like China

Hendersons' Kerley: investing in Marmite-like China

Citywire A-rated manager sees higher quality growth originating from China's current reforms.

Play Oil slump opportunities, Japanese recession & a UK bank conundrum

Oil slump opportunities, Japanese recession & a UK bank conundrum

Investment Pulse this week looks at further challenges for the British banking sector, Japan's return to recession and the continuing weakness of brent crude.

Play JPMAM's Georgina Brittain: the best opportunities in mid caps

JPMAM's Georgina Brittain: the best opportunities in mid caps

Brittain discusses where she sees opportunities in mid caps despite rising valuations.

Your Business: Cover Star Club

Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

Wealth Manager on Twitter