Witan dumps Nomura from Pacific trust

Witan has restructured the management line-up of its £160m Pacific investment trust, bringing in Matthews International Capital Management and MW GaveKal Asia Ltd to replace Nomura Asset Management.

The trust's board said the change has been made to access a wider range of opportunities across the Asia Pacific region. Following the changes, Matthews will manage 35% of the trust's assets, while MW GaveKal will run 10%. Aberdeen will continue to manage the majority of the portfolio, retaining its 55% position. Witan said Matthews will focus on enhancing the trust's yield, through adopting a bottom-up investment approach. Meanwhile, MW GaveKal will invest across equities and bonds, using an unconstrained philosophy. Gillian Nott, chairman of Witan Pacific investment trust, sa...