Jupiter and Veritas among eight managers selected to run new Alliance Trust portfolio

Willis Towers Watson to oversee whole strategy

The board of the £3.2bn Alliance Trust has unveiled the eight equity managers chosen to run its revamped closed-ended vehicle, including Jupiter, First Pacific and Veritas, which will take on a multi-manager approach to create a focused global portfolio of best ideas.

The decision to adopt the new structure for the global equity vehicle was made in December last year, six months after initiating a strategic review. Investment consultant Willis Towers Watson (WTW) was responsible for appointing the eight managers, chosen from around the world, who will create a global portfolio of typically around 20 stocks each, representing their best ideas.  The board has decided to make WTW the leading investment manager to oversee the overall strategy, with CIO Craig Baker (pictured) leading the team, David Shapiro and Mark Davis as co-portfolio managers and St...