Mundy's Temple Bar trust to increase international equity limit

The board of Alastair Mundy's £631m Temple Bar trust is seeking shareholder approval to widen its international equity weighting as part of a broadening of its mandate.

Currently, Mundy can only hold up to 10% in international names, but if given the green light by shareholders the limit will be increased to 20%. The change will grant Mundy the same flexibility he has with his open-ended £747m Investec UK Special Situations fund, which can already invest up to a fifth in international equities. John Reeve, chairman of the Temple Bar trust, said: "The board is requesting shareholder approval to increase this limit to 20%, principally to reflect the increasingly international nature of investment markets where the place of a company's listing often bea...