Witan Investment Trust (ticker: WTAN) was launched in 1909 to manage the assets of the Henderson family and it was listed on the London market in 1924. Henderson Administration (now part of Janus Henderson) was formed to run the trust's portfolio in the 1930s, a state of affairs that continued until 2004 at which time Witan decided to become self-managed and started using a multi-manager approach. Today, Witan has six managers devoted to its core strategies, two with more specialised mandates, and also picks a range of trusts itself. Andrew Bell became Witan's CEO in 2010 and James Hart has be...
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Alliance Trust (ticker: ATST) was launched in 1888 and was combined with a similar vehicle, The Second Alliance Trust, in 2006. A decade later, following a protracted battle with Elliott, an activist US hedge fund, Alliance got rid of its executive directors, sold off its share dealing and investment businesses, and appointed Willis Towers Watson to be its investment adviser. Willis Towers Watson uses several different managers, asking them to select up to 20 of their best investment ideas. Alliance then blends these into a style-neutral portfolio of around 200 stocks that is designed to never...
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