Christopher Clarke is standing down as executive managing director of Witan at the end of June. Clar...
Christopher Clarke is standing down as executive managing director of Witan at the end of June.
Clarke has been closely involved in the managing of the trust since joining Henderson in 1974.
James Robinson is to take over as manager of the trust. Robinson is currently head of international equities, having joined Henderson Investors as head of the Far East team.
The change in management is unlikely to have a negative impact on the performance of the trust as the underlying team will remain unchanged. Stock selection decisions will remain in the hands of David Thornton and Richard Smith for the UK, John Botham and Stephen Peak in Europe, Chris Galleymore in the US, Michael Wood-Martin in Japan and William Pitman in the Far East.
Clarke's main role in running Witan has been asset allocation. As at the end of March some 54.6% of the trust was invested in UK equities followed by 19% in the US and 11.3% in Europe. The remaining part of portfolio is divided 11.2% in Japan and the Far East, 2.7% in cash and bonds and 1.2% other investments.
Other roles include maintaining a good level of corporate governance with the board and shareholders. Clarke has held the role of managing director since 1993 and will continue as a director after the end of June. Over the three years to 17 May the £2.1bn trust is ranked two out of 15 in the Standard & Poor's International General peer group. During the period its share price rose by 68.8% compared to an average rise of 49.5%.
Over the next few months Witan will be marketed to fee based stockbrokers.
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