David Stevenson assesses the impact of Elliott Advisors' challenge to Alliance Trust on the company and the wider investment trust sector.
On paper, there is a lot to like about Alliance Trust, one of the biggest and most venerable global investment trusts in the UK market. It is a flagship for the industry, and should be in a brilliant position to benefit from the big inflows expected after pensions liberation. The fund has decided to refocus its investment strategy on SRI, which could be an inspired move. It also boasts an energetic and talented female CEO. Last, but by no means least, the business has persevered with Alliance Trust Savings (ATS) – its D2C broker funds platform – which could be worth a small fortune i...
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