Witan investment trust has handed two £100m UK equity mandates to Lindsell Train and NewSmith Asset Management, after taking one of the mandates away from Henderson.
Starting from September 2010, Lindsell Train and NewSmith will each run concentrated portfolios with a focus on creating value, as part of the investment trust's move towards a more active management style. Witan has created the mandates by reallocating funds from the Henderson UK Enhanced Index portfolio and the residual holdings in its Marathon UK portfolio. "This decision reflects a further stage in the evolution of Witan's multi-manager structure and a deliberate move to increase the significance of stock selection in UK returns," the board says. "Witan thanks Henderson Global ...
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