Johnston takes reins on Slater Growth fund

John Johnston has taken over LeggMason Investors' Slater Growth unit trust fund, writes Ruth Alexander. Under Johnston, who joined the group on 1 November, the fund is to be renamed the Legg-Mason UK Emerging Growth fund. Johnston, who previously ran the Murray Enterprise fund at Murray Johnstone, said 25% of the LeggMason fund's stocks will be immediately cut from the portfolio. The subsequent rate of replacement of stocks will be dependent on the quality of ideas and the price he can buy them at. He plans to keep the number of holdings between 50 and 60 stocks. The fund was previously ...