View the article online at http://citywire.co.uk/wealth-manager/article/a646071
Witan hands Lansdowne Partners £30m global equity mandate
by Dylan Lobo on Dec 17, 2012 at 07:45
Witan has picked hedge fund manager Lansdowne Partners to run a global equity mandate.
The mandate will have an initial value of £30 million and will be invested in accordance with Lansdowne Partners’ newly established Developed Markets Long Only Strategy, which invests in basket of 15-25 stocks.
The mandate will be funded from cash resources, with a small initial increase in short-term borrowings.
In a statement Witan chief executive Andrew Bell (pictured) said: 'This appointment is part of our continuing move to invest more with specialist managers who have innovative and high-conviction approaches towards creating value through stock picking and portfolio construction.'
'Lansdowne Partners’ unconstrained yet analytically- rigorous investment approach fits well with Witan’s objective of seeking returns driven by the individual characteristics of portfolio companies and less dependent upon equity index performance.'
In the three years to end of November Witan's net asset value has risen by 25.7% versus a 24.34% rise in the FTSE World index. The trust is trading at a 12.6% discount.
News sponsored by:
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.
More about this:
Look up the investment trusts
On the road
J.P. Morgan Elect on investment growth, income and cash. More information on J.P. Morgan investment trusts.