Witan Pacific investment trust has hired Baillie Gifford as its new investment manager and will be renamed Baillie Gifford China Growth Trust plc, the board has said.
In a statement to investors on Wednesday (22 July), the board said it has sacked multi-manager expert Witan and will seek shareholder approval to appoint Baillie Gifford. Baillie Gifford will be tasked with turning the vehicle into a China-focused mandate, with the objective of seeking long-term capital growth by investing predominantly in shares of, or depositary receipts representing shares of, Chinese companies. Scottish Mortgage's Flood: Sometimes the best thing to do is nothing The new portfolio will consist of a diversified selection of 40 to 80 holdings, with up to 20% of to...
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