Witan trust ends 20-year fixed income drought

Trust has increased gearing by 6% to fund purchases

Witan Investment Trust has bought its first fixed income holding for more than 20 years. The £886m multi-manager trust bought a £10m exposure to Pimco's Global Investment Grade Credit fund on 5 April. The holding is approximately 1.5% of the portfolio. Witan marketing director James Frost says this is the 100-year-old company's first bond fund in the past 20 years, for which records are available. It has also added £10m each to a bespoke portfolio run by Marathon Asset Management and a segregated portfolio with Artemis, which is managed by Derek Stuart and mirrors his Special Situatio...