Chairman to step down as Global Growth vehicle reports poor one-year returns
Advance UK Trust is revamping its investment policy after reporting poor one-year results to the end of August. Chairman Edward Davis said in light of performance this year the board has reviewed the trust's investment policy. The Global Growth vehicle, run by James Carthew, reports a 42.4% one-year decline, as at 3 November according to Morningstar, compared to a sector average 33.9% loss. "The amendment to the company's investment policy has the effect of removing any geographical constraint on investment by the manager," said Davis. "For a considerable part of the period, the pro...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes