Investment Trusts

Henderson manager to overhaul European Growth trust upon takeover from Peak in July

The Aberdeen Emerging Markets Smaller Companies trust will be overweight domestic growth stocks when it launches next month.

INVESTMENT TRUSTS

The board of Alliance Trust said it is now hunting for a new chairman after Lesley Knox announced she is stepping down.

SVM has told shareholders to accept activist investor Cyrun's proposal to take over the management of the group's £63m UK Active fund.

Martin Currie's Andrew Graham is to reduce the £135m Pacific trust's Japan exposure when he takes the helm in July.

Morningstar's closed-ended fund strategist Mike Taggart believes investors will continue to largely shun "secretive" investment trusts until they improve transparency.

Henderson's head of pan-european equities Stephen Peak has stepped down as lead manager of the £280m TR European Growth trust.

Collins Stewart's Martin Turner has today joined MAM Funds as co-manager of Gervais William's Diverse Income trust.

John Millar is stepping down from his role as manager of the £135m Martin Currie Pacific trust after the board decided to reduce the trust's exposure to Japan.