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Witan's Bell: We don't want a stamp collection
by Sarah Miloudi on Sep 05, 2013 at 09:40
Andrew Bell, chief executive of Witan Investment Trust, has said despite 'fortune smiling' on the vehicle in terms of performance he will not diversify his family of managers to the point it resembles a 'stamp collection'.
All three are higher conviction in terms of style and benchmark unaware. In the case of Matthews it also reflect Bell's ambition to capture returns from Japan as it is transformed by Abenomics.
Since joining Witan in 2010, Bell has also added AAA-rated UK equity star Nick Train to his suite of managers, and over the year to the end of August the trust's share price has climbed by a third, while its net asset value (NAV) has risen by 26.7%.
Over three years its share price and NAV have grown by more than 40%, versus a 38.1% increase in the FTSE World Index.
But despite enjoying solid returns, Bell said he does not want to extend Witan's range of managers to the point the £1.2 billion trust is over-diversified and resembles a tracker.
'We don't want to end up with a stamp collection and keep adding and adding,' he said.
'What we are trying to do is be diversified but not diluted.'
In this video with Wealth Manager the Witan chief also touches on how changes at the trust have helped increase the rate of dividend payouts, and how they will win favour with wealth managers who in the past have consolidated their holdings of global growth funds.
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