Stock selection becomes vital for generalist funds

Growing globalisation is moving international generalist investment trusts away from pure geographical asset allocation. Witan, managed by Henderson Investors, is one trust having to rely increasingly on stock selection to counter-balance the growing correlation between regional markets. Christopher Clarke, managing director of Witan, says the rise of dynamic technology companies has made this all the more important. He adds: "Last year there was a great difference in the performance of international generalists showing how important stock selection has become." Witan's portfolio is now ...