The board of the £1.8bn Witan investment trust has appointed Crux Asset Management and SW Mitchell Capital to manage the new European equity mandate which was introduced to the global portfolio this month.
The firms have each been allocated approximately £100m, representing around 5% of the multi-manager portfolio, to invest in European equities. They will both aim to outperform the FTSE Europe ex-UK region index. According to Witan CEO Andrew Bell (pictured), the change was made in order to increase the trust's exposure to European equities, following an improved political and economic backdrop over 2017. The new mandate replaces the pan-European equity mandate, which was managed by Marathon Asset Management. Following this change, Witan will have ten external managers covering UK,...
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