Investment Manager Selection (IMS) is to choose the third-party managers for the £450m US large-cap ...
Investment Manager Selection (IMS) is to choose the third-party managers for the £450m US large-cap component of the Foreign & Colonial Investment Trust. The move comes after the board concluded net asset value (NAV) performance was being harmed by poor stock selection in the US and Japan. Some 20.8% of the £2.3bn trust is in US large caps and a further 5.4% in Japanese equities, although F&C said it is still reviewing whether to turn this portion over to third-party managers. IMS already runs a series of multi-manager mandates for institutional players alongside several funds of funds....
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