How Alliance Trust is recovering from 'awful period' and what can attract wealth manager interest

18 months on from multi-manager structure launch

Almost 18 months since its new multi-manager structure was implemented following a lengthy strategic review and the buyback of a 20% stake from US activist hedge fund Elliott Advisors, the £2.7bn Alliance Trust has seen a pick-up in performance and ratings.

However, the board remains determined to reassure those investors who are still wary of its chequered past. The multi-manager approach - which was introduced in April 2017 - saw Willis Towers Watson (WTW) select eight managers to run their own global equities portfolio, each choosing their top 20 'best ideas' - with GQG Partners also managing an emerging markets portfolio. Five names are not otherwise available to the UK retail market, which has helped increase interest in the trust due to exclusive access and the chance to hear the managers speak on an annual basis, but the lack of...