Witan Investment Trust appoints new UK portfolio manager

18th Jun 2013 07:55

Witan Investment Trust has appointed Heronbridge Investment Management to manage a 75m pound UK equity portfolio. The mandate with Heronbridge, a UK-based boutique with £800m of assets under management, will be funded from the portfolio previously managed by NewSmith Asset Management. It represents about 5.0% of Witan's portfolio. "The appointment of Heronbridge is a continuation of our move to invest with specialist managers who are innovative and have differentiated and high-conviction approaches towards creating value through stock picking and portfolio construction," said Chief Executive, Andrew Bell. "At the same time, we would like to thank NewSmith Asset Management for their stewardship of the company's assets over the past three years."RD