Alliance Trust eyes further funds after European Equity launch

Alliance Trust Asset Management has unveiled a high-conviction European Equity fund for former Scottish Widows veteran Fiona MacRae.

Launched last week, the concentrated long-only portfolio consists of between 25 to 35 stocks and is benchmarked against the FTSE All World Developed Europe ex-UK index. MacRae joined Alliance Trust from boutique Kempen Capital Management in October 2008, after previously spending 19 years at Scottish Widows. European Equity is the third Alliance Trust fund unveiled this year, following the launch of the UK Equity Income and North American Equity vehicles in February. Alliance Trust business development managing director Edward Troughton says MacRae's investment approach is highly a...