Alliance Trust PLC - Portfolio Update: Stock Picker Change
18 April 2024 - 8:00AM
UK Regulatory
Alliance Trust PLC - Portfolio Update: Stock Picker Change
Alliance Trust PLC (“the Company”)
LEI: 213800SZZD4E2IOZ9W55
Change to Alliance Trust’s stock picker
line-up
The Company announces that its investment
manager, Willis Tower Watson (“WTW”), has appointed a new stock
picker for its multi-manager global equity portfolio. ARGA
Investment Management (“ARGA”) replaces Jupiter Asset Management
(“Jupiter”) following Ben Whitmore’s decision to leave Jupiter
later this year and set up his own business.
Craig Baker, WTW’s Chief Investment Officer and
Chair of Investment Committee, said: “While we continue to have
high regard for Ben’s skill as an investor, this change of
circumstances introduces potential risks which will take time to
fully assess. We have therefore decided to replace Ben’s allocation
with one run by another stock picker with a similar value-investing
philosophy. This will ensure the portfolio remains balanced across
investment styles, regions, and sectors, and continues to seek to
generate market outperformance from stock selection.
“We would like to express our appreciation to
Ben, his team and Jupiter for their contribution to Alliance Trust
over the last seven years and wish Ben well in his new venture,
which we will monitor with interest. At the same time, we are
excited by the opportunity to introduce a new stock picker with an
innovative and disciplined value process, and a large and diverse
team providing research breadth and fresh ideas.”
ARGA is a global value manager, founded in 2010
by Chief Investment Officer A. Rama Krishna, who has over 30 years’
experience managing global and emerging markets equities. He
previously worked at Pzena Investment Management from 2003 to 2010
where he led development of global value strategies while
co-heading the emerging markets value team. Prior to that he worked
for Citigroup Asset Management and AllianceBernstein. ARGA has
£11.8 billion of assets under management as of 31 March 2024 and
its staff are based in Stamford, USA, Chennai and Mumbai, India,
and London. The firm’s investment philosophy is rooted in
traditional value principles which seek to capitalise on investors
overreacting to negative events and mistaking temporary stresses in
share prices for permanent losses of capital.
ARGA has been allocated approximately 8% of the
Alliance Trust portfolio to manage, funded from Jupiter’s
allocation, with some minor adjustments to other stock picker
allocations. The full list of stock picker allocations will be
available in the April factsheet published in May.
Juniper Partners Limited
Company Secretary
18 April 2024
https://www.alliancetrust.co.uk
For more information, please contact:
Mark Atkinson
Senior Director
Client Management, Wealth & Retail
Willis Towers Watson
Tel: 07918 724303
mark.Atkinson@wtwco.com
|
Sarah
Gibbons-Cook
Quill PR
Tel: 020 7466 5050
AllianceTrust@quillpr.com |
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