With effect from 1 April 2017, James Goldstone will become the portfolio manager of Keystone Investment Trust plc.
James Goldstone (39) has been a UK equities investment specialist for 15 years and a member of the Invesco Perpetual UK equities team for 5 years, working closely with and alongside Mark Barnett. In October 2016, James was appointed manager of the UK Equity portfolio of Invesco Perpetual Select Trust plc and has recently assumed responsibility for the UK portion of a pan-European equity mandate. Since April 2014, he has managed a unit-linked UK equity pension fund which has produced outstanding results over that period.
Beatrice Hollond, Chairman of Keystone said: “Fourteen years ago the Board took the decision to appoint a talented young fund manager called Mark Barnett. Mark has produced outstanding returns for shareholders and the Board would like to take this opportunity to thank Mark for his many achievements and for producing superior long term returns for shareholders. Over the last few years Mark’s responsibilities have grown significantly and the Board believes that the time is now right for him to pass the baton to one of the rising stars of his team. The Board has been highly impressed by James Goldstone and is confident that he is the right investor to take over management of Keystone from Mark“.
To coincide with this new appointment, the Board is pleased to announce a change in management fee arrangements, also effective from 1 April. Under this new arrangement Invesco Fund Managers Limited (IFML) will be entitled to a management fee at a rate of 0.45% per annum (previously 0.6%) of the company’s market capitalisation. All other terms relating to fees and notice remain unchanged from the existing management agreement, including that IFML continues to be entitled to a performance-related fee if the total return from the Company’s NAV exceeds that of the FTSE All-Share Index by more than 1.25% per annum over a rolling three-year period.
KIT : New manager for Keystone