Fidelity completed the repositioning of the £941.7m Edinburgh investment trust after taking over the...
Fidelity completed the repositioning of the £941.7m Edinburgh investment trust after taking over the mandate from Edinburgh Fund Managers in August. When Fidelity took on management of the portfolio, only 60% of the holdings matched its target portfolio, but that figure had increased to around 97.5%. A residual £18m or 2.5% of exceptionally illiquid inherited assets was still being held in the portfolio, and trust chairman Lord Eglinton said this had been a drag on performance since Fidelity took over.
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