Global equity investment trust
Witan Investment Trust (Witan) a multi-managed, global equity investment trust, with a portfolio diversified by geographical region, industrial sector and individual stock. The firm was created in 1909 to manage the estate of Alexander Henderson, 1st Baron Faringdon.
First listed on the London Stock Exchange in 1924, it established Henderson Administration (now Henderson Global Investors) to manage its funds in 1932, and then sold its remaining stake in Henderson in 1997.
In 2004, Witan became self-managed, appointed its first CEO and adopted a multi-manager approach. Its portfolio is managed by ten third-party managers.
The in-house team, based in London, consists of the CEO and a director of investment, responsible for the selection and monitoring of the managers, management of direct investments and the company's gearing policy.
Equal to 12% of its portfolio
Analysts back move to China mandate
Trust will become China vehicle
Concerns grow following prolonged underperformance
Cites 'broader opportunity set' than UK market
F&C invests in 37 different countries
UK weighting reduced
Possible addition to company's Horizon fund
Search for replacement commences
'Encouraging start' for Alliance Trust following restructure though analysts concerned by 'black-box drawback'
One year into raft of changes
'Emphasis on active portfolio management'
Trust also welcomes new chair
James Hart, investment director for Witan Investment Services, has identified Asian areas of interest where the £1.7bn Witan and £194m Witan Pacific investment trusts have recently increased their exposure including Korea, Singapore and Japan.
Negative total return in H1 results
41st consecutive rise
£1.5bn trust issues new shares
Witan investment trust has become the tenth investment trust to grow its annual dividend for 40 consecutive years, according to the Association of Investment Companies.
Investec Wealth and Investment CIO Chris Hills and Schroder UK Mid Cap director Rachel Beagles have joined the board of the Association of Investment Companies.
The Association of Investment Companies (AIC) has elected Peter Arthur to replace Andrew Bell as chairman.
Witan Investment Trust has appointed two new managers for its global equity portfolios.
Andrew Bell, chief executive of the £1.1bn Witan investment trust, has joined the chorus of disgruntled shareholders who are demanding radical change at private equity firm 3i.
Andrew Bell's £1.1bn Witan investment trust has conceded it was too highly leveraged last year, after reporting a sharp drop in its NAV for 2011.