Witan appoints two managers in shift to active management

Investment trust Witan is handing two £100m mandates to active fund management boutiques Lindsell Train and NewSmith Asset Management in September.

The group has sacked the Henderson UK enhanced index portfolio and Witan Marathon UK portfolio from managing the mandates as part of a greater focus on active management.

The Lindsell Train mandate will be managed by Nick Train, who runs concentrated portfolios of around 20-30 stocks under a fundamental approach.

The NewSmith portfolio will be managed by Steve Thompson, Richard Milliken and Mark Wharrier who also run concentrated mandates but base their approach on research and also employ a thematic overlay. (article continues below)

The two boutiques join Artemis as active managers who run portions of the Witan fund.

Andrew Bell, the chief executive of Witan Investment Trust, says shareholders will benefit from the shift to active management.