Alliance–Trust cuts fund jobs

ALLIANCE Trust has cut jobs at its 30-strong investment team with immediate effect, it emerged yesterday.

The Dundee-based firm declined to say how many posts would be affected but noted that “a small number of other investment roles have been made transitional, with individuals able to apply for roles in the new structure”.

It said that it would close three of its seven funds: the UK Equity Income Fund, the Asia-Pacific Equity Fund and the Japan Equity Fund.

Ilario Di Bon will be promoted to be head of equities, supported by a global equity team reporting directly to chief executive Katherine Garrett-Cox, who said the moves would create “a more focused and efficient investment structure”.