BAT to implement separate global market strategies

F&C British Assets Trust suffers through private equity holdings but new approved stock selection aims to turn things around for the vehicle

F&C's British Assets Trust (BAT) will benefit from a move to separate emerging and developed markets stock selection, according to its chairman. The globally invested trust has consolidated its portfolio construction from a range of separately chosen regional portfolios under lead manager Julie Dent. According to the company's half-year results to 31 March, it made a pre-tax loss of £65.75m, compared to £124.4m in the previous six months. AUM fell around £75m during the period, from £333.5m to £258.4m, while the NAV per ordinary share in BAT dropped 27.5%, from 114p to 83.3p. Compan...