Witan Investment Trust has appointed Heronbridge Investment Management to manage a £75 million UK equity portfolio.
UK-based boutique Heronbridge, which has assets under management of around £800 million, will run the mandate in the same way as its Heronbridge UK Equity strategy.
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This mandate – which will represent approximately 5% of the Witan Investment Trust portfolio – will be funded from the portfolio previously managed by NewSmith Asset Management.
Andrew Bell, chief executive of Witan Investment Trust, said: "The appointment of Heronbridge is a continuation of our move to invest with specialist managers who are innovative and have differentiated and high-conviction approaches towards creating value through stock picking and portfolio construction.
"At the same time, we would like to thank NewSmith Asset Management for their stewardship of the company’s assets over the past three years," Bell added.
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