Witan IT to have greater EM focus

Andrew Bell is set to boost emerging market exposure on £1bn Witan trust and halve number of European stocks.

Witan’s Andrew Bell is gearing up to reshape the country allocation of his £1.1bn Witan investment trust to give it a greater emerging market emphasis. Bell is set to boost EM exposure from 16% to 20%-25% and slash his weighting to Europe as he believes growth in the developed world will remain muted for a number of years. He has already begun cutting the trust’s European weighting, closing out a £30m European mandate run by Varenne on growth concerns. “We take the view that due to poor sentiment from the market growth in developed economies, the recovery will be anaemic for som...