Seneca Global Income & Growth trust moves to AIC Flexible Investment sector

Significant returns since mandate change

Seneca Investment Managers has re-assigned its £64m Global Income & Growth trust to the AIC Flexible Investment sector, as the trust celebrates five years since altering its investment strategy.

The trust had previously been a member of the AIC's Global Equity Income sector but transferred to the Flexible Sector on 1 January this year. The move comes five years after the trust revised its investment mandate, and a year after the launch of the sector itself. In January 2012, the board made a number of changes to the vehicle's policy and approach, which included rebasing the dividend, increasing the core allocation to overseas equities, reducing the core allocation to fixed income and widening asset allocation ranges. Since then the trust, which is co-managed by Alan Borrows (p...