Alliance Trust has confirmed the appointment of Willis Towers Watson (WTW) to manage the Trust’s equity portfolio1, effective from 1 April 2017. As previously announced, WTW has, on behalf of the Trust, selected eight equity managers and the transition to these managers will be completed before the Trust’s AGM.
Alliance Trust has also completed the sale of Alliance Trust Investments (ATI) to Liontrust Asset Management Plc (Liontrust). Alliance Trust says that it is expected that net proceeds will be not less than £25m, before any future contingent consideration although the actual value which the Trust will finally receive will be dependent on the movement in the price of the Liontrust shares acquired as part of the consideration. This compares to the fair value of ATI prior to the sale being announced of £19.8m, as at the end of June 2016.
About Alliance Trust
Alliance Trust, based in Dundee, is one of the oldest and largest investment companies. Historically, it has been a self-managed global fund with a diversified global portfolio of equities and some exposure to private equity and property. It has also been distinguished by owning its own investment platform, Alliance Trust Savings and its investment team also managed third party funds. The latter two activities had the long-term potential to add value for ordinary shareholders.
Alliance Trust appoints Willis Towers Watson as manager & completes sale of Alliance Trust Investments : ATST