Alliance Trust reveals list of new investment managers

Wealth manager Alliance Trust has revealed the eight equity managers chosen to oversee its new investment strategy.

Lord Smith of Kelvin urged Alliance Trust shareholders to approve its new investment approach. Picture: Neil Hanna

The move to appoint the managers, selected by Willis Towers Watson – which advises on other firms’ investments worth some $2.3 trillion (£1.9tn) – comes after the Dundee-based trust last month announced a radical overhaul that will see it sell its in-house investments arm to Liontrust Asset Management for up to £30 million.

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Willis Towers Watson has selected three London-based firms – Jupiter Asset Management, River & Mercantile Asset Management and Veritas Asset Management – among the new stable of outsourced equity managers.

They will be joined by Black Creek Investment Management of Toronto and four US fund managers – First Pacific Advisors, GQG Partners, Lyrical Asset Management and Sustainable Growth Advisers.

Alliance Trust chairman Lord Smith of Kelvin said the 128-year-old Dundee trust would remain a “core holding” in the overall portfolio, saying it had provided investors with “attractive returns and income through many generations”.

He added: “Under the new approach, Alliance Trust will offer access to best-in-class managers, which, together with a focus only on their best investment ideas, will help to increase the likelihood of consistently delivering improved performance over the long term.

“We are confident that this new approach, and the managers selected, will meet our ambition and deliver for many more generations to come and we recommend shareholders vote in favour at the general meeting.”

The investor meeting to vote on Alliance Trust’s new investment approach will be held at the Edinburgh International Conference Centre on 28 February.