The “new” Anglo & Overseas investment trust will begin trading at the end of month, with assets under management of approximately 85m. The rollover vehicle for the old 312m Anglo & Overseas trust, managed by DWS Investment Trust Managers, is to be run by Sandy Nairn and Graham Campbell at Edinburgh Partners.Allowing for the exit of arbitrageurs and the repayment of borrowings, the board of the trust says the new assets represent two-thirds of the maximum expected rollover of 130m. The new trust has a similar objective to its predecessor in that it will continue to invest 40% of the portfolio in British companies and the balance overseas. However, Nairn and Campbell will reduce the number of holdings in each portfolio to no more than 40 stocks and there will be more emphasis on research-driven stock selection. While Nairn is in charge of the overall portfolio, Campbell will be responsible for the running of the UK portfolio. The two managers formed Edinburgh Partners two years ago, following their departure from Scottish Widows Investment Partnership. Edinburgh launched its first investment trust, the EP Global Opportunities trust, in late 2003. Managed by Nairn, the fund has so far attracted assets under management of 29.5m and is currently trading on a 2% premium to net asset value. This follows strong performance over the last 12 months to July 11, in which the trust has returned 31.1%, placing it 11th out 33 trusts in the Global Growth sector. Edinburgh Partners has been given an initial two-year agreement to manage the new Anglo & Overseas trust, with a one-year rolling contract thereafter.