The board of the SVM Global investment trust has appointed Henderson Global Investors as investment manager, after the board opted to drop Colin McLean's firm from the mandate.
The portfolio will be managed by Henderson's Ian Barrass and Paul Craig. Barrass is head of Henderson's private equity fund of funds business, while Craig is a member of the firm's multi-manager team. The change comes after the trust's board announced last year that it was putting the management contract out to tender, with immediate effect. Broker Numis is backing Henderson to turnaround the trust's below-par performance. "This appears to be a good outcome for shareholders as Henderson has an experienced funds team, with a good knowledge of specialist, less liquid asset classe...
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