Fidelity has named the four fund managers who will run the £1.347bn Edinburgh Investment Trust under...
Fidelity has named the four fund managers who will run the £1.347bn Edinburgh Investment Trust under the leadership of Peter Yarrow, senior director of the group's UK equities team.
They include: Tim McCarron, who runs Fidelity's Income Plus, MoneyBuilder Balanced and MoneyBuilder Growth funds, as well as the Fidelity European Values investment trust and the £2bn Fidelity European. The other managers are: Frederic Gautier, who runs the Growth & Income, FF United Kingdom, UK Growth and Advisor World Europe funds; and institutional portfolio managers Jed Wrigley and Anas Chakra.
The split of assets between the four managers, who together reduce single manager risk, is decided by Yarrow, who is also responsible for gearing levels.
The managers use differing styles. For example, Gautier has a growth bias while McCarron is more value-oriented. Each manager will make their own stock selection decisions and determine their own market capitalisation, sector and other portfolio characteristics.
Fidelity said the trust portfolio will predominantly be made up of UK equities, with a bias away from FTSE 100 stocks towards the mid 250.
Between 45% and 48% of the portfolio could be turned over in the coming weeks as it represents stocks Fidelity does not favour, according to Yarrow.
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