Alliance Trust replaces managers on ailing Asian and Japan funds

Alliance Trust has placed new managers on its Asia Pacific Equity and Japan Equity funds in a bid to boost performance.

The new management is the last step in a series of changes, including bringing the ACD function in-house and shifting the management team from Hong Kong back to Dundee. Since 1 October, Sam Ford and David Osfield have run the £48m Asia Pacific fund, while recently installed head of Asian equities Jonathan Bolton and Justin Atkinson manage the £29m Japan portfolio. The previous managers have left Alliance Trust. Leigh Grubb, chief operating officer of the firm’s asset management arm, says the long-term underperformance of these funds led to a management review. From 13 September 200...