Hawksmoor manager Richard Scott has opened a position in Alliance Trust on his Vanbrugh fund following the trust's public spat with Elliott Advisors.
What can trust boards learn?
As Alliance Trust reaches an uneasy truce with activist investor Elliott Advisors, Investment Week looks at previous attempts at boardroom coups, and how they ended.
Alliance Trust has revealed it spent £3m contesting proposals put forward by hedge fund Elliott Advisors, prior to the 11th hour compromise agreed yesterday.
Alliance Trust's agreement to appoint two of the non-execs proposed by Elliott Advisors has been proclaimed a victory for the hedge fund, but the trust's future direction remains up in the air.
Alliance Trust has partially given way to Elliott Advisors' demands just a day before its AGM, agreeing to appoint two new non-execs to its board.
Standard Life is closing its Savings Investment Trust ISA and Savings Scheme, and transferring customers to Alliance Trust Savings (ATS).
Aberdeen Asset Management and Legal & General Investment Management have added their support to Elliott Advisors in the war with Alliance Trust.