The Edinburgh investment trust has appointed Invesco Perpetual's head of investments Neil Woodford as its new manager.
Woodford will replace Fidelity's John Stavis, who announced in June that he was taking a six-month sabbatical. The higher income portion of the trust has been singled out as failing to meet expectations. As the largest UK income growth investment trust, with assets of approximately £1bn, the Edinburgh investment trust focuses mainly on large UK companies, from a variety of sectors and aims for its capital growth to outperform the FTSE All-Share and its dividend growth to beat the UK inflation rate. Scott Dobbie, chairman of the Edinburgh investment trust, said: "Invesco Perpetual h...
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