Ahead of its general meeting next week, the board of the £3.2bn Alliance Trust has responded to shareholder concerns that the appointment of consultant Willis Towers Watson as its investment manager constitutes a conflict of interest.
Alliance Trust will hold a general meeting on 28 February to seek shareholder approval for the multi-manager approach for which it announced plans in December last year. It will also propose to appoint Willis Towers Watson (WTW) to manage the overall equity portfolio. However, some institutional investor advisory services have suggested abstaining on this resolution, among others. It is understood they are unhappy about a potential conflict of interest as WTW was initially engaged to provide advice on the future direction for the trust but was later appointed to oversee the multi-mana...
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