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Witan appoints third global manager

Witan has appointed Thomas White International Ltd to manage a £150m mandate within the group’s investment trust £1.5bn.

The addition of the Chicago-based boutique is Witan’s third global addition to the trust as it broadens the investment reach of the by increasing its exposure to the group’s Asian portfolios.

The increased exposure will see cuts to other areas of the market, with the UK mainstream portfolio cut from 40 to 32 per cent and the North American mandate from 10 to 6 per cent.

The trust is also moving from beta to alpha generation as part of its new strategy, with 35 per cent of the trusts overall portfolio run by active global managers.

The Board of Witan say the appointment of Thomas White is strictly a strategic investment and has not been a reflection of poor performance by other mandates. The group already has global exposure through MFS and Southeastern, which run 10 and 15 per cent of the portfolio respectively.

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