The £2.5bn Alliance Trust board has said 2017 was a "transformational year" as it introduced its new investment structure and multi-manager approach, though analysts at Numis Securites remain concerned about lack of disclosure of the underlying performance of its individual managers.
In its full-year results to 31 December, the trust has returned 19.2% alongside a net asset value (NAV) total return of 15.5%, compared with its MSCI All Country World Index benchmark return of 13.8%....
Four potential outcomes
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