Independent Investment Trust sees increase of 17.7% thanks to housebuilders
Max Ward's Independent Investment Trust has benefited from its high exposure to UK housebuilders. The trust saw its NAV rise from launch on 19 October 2000 to 31 March 2001 by 17.7%. While the trust is listed in the global growth sector it benchmarks its performance against the All-Share, which fell 4.5% over the same period. The trust, managed by Max Ward and chaired by Douglas McDougall, both formerly of Baillie Gifford, is managed without any defined process or style, and without reference to any benchmark. There are three major influences that the managers have identified as dominatin...
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