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 Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the duo at the heart of Hargreave Hale's succession plan

Profile: meet the duo at the heart of Hargreave Hale's succession plan

For the first time in the company's history a non-Hargreave is now at the head of the north west broker and asset manager

Wealth Manager on Twitter