Allianz Global Investors has announced Lucy Macdonald will become manager of the Brunner Investment Trust from Friday.
Macdonald, who is already chief investment officer for global equities, has been co-manager of the trust since 2010, but has been managing concentrated global portfolios for Allianz for 15 years.
She had previously co-managed the trust with Jeremy Thomas, who has now departed the asset management firm.
Brunner Investment Trust chair Carolan Dobson says Macdonald’s in-depth knowledge of the trust “puts us in a strong position going forward”.
Dobson says female fund managers are shown to have “similar or better performance” compared with their male counterparts, despite in the US fund management industry only “exclusively” running 2 per cent of assets.
In the UK, research released by Tilney Bestinvest last week found women managing or co-managing Oeics, unit trusts and investment trusts account for just 8.5 per cent of fund managers.
Dobson says therefore that “we will provide a differentiating feature from other global investment trusts”.
Macdonald says she expects a “seamless” transition.
“The Brunner Investment Trust is currently the largest holding in my own personal pension fund and I intend to use the current wide discount to add to it.”