Alliance Witan appoints Jennison as stock picker following £1.5bn merger completion

Number of managers rises to 11

Alliance Witan (ALW) has expanded its roster of stock pickers with the addition of Jennison Associates, which will be responsible for 5% of the multi-manager global equity portfolio.

In a stock exchange notice today (10 October), the trust said the appointment of the $210bn US-based firm, which specialises in companies with "exceptional growth prospects", takes the total number of managers to 11. Jennison previously managed part of Witan's multi-manager portfolio before its merger with Alliance trust, which completed on Wednesday (9 October) with the latter's acquisition of around £1.5bn net assets from Witan.  Alliance Trust and Witan merge to form £5bn FTSE 100 vehicle The trust said Jennison's 5% allocation of the portfolio has mainly come from stocks it pre...