Overview
Witan bills itself as the only fully multi-managed investment Trust (i.e. it gives portions of its portfolio to different external managers to invest rather than managing its own money (although one portion of the fund is currently invested in a selection of other listed investment companies and this part of the portfolio is managed internally).
Witan’s global portfolio offers exposure to the world’s major equity markets thereby offering diversification by geographical region, industrial sector and individual stock. The multi-manager approach means that the Trust employs a number of specialist fund managers running different portions of the portfolio, managers who we believe are the best in that individual area and are therefore more likely to generate decent returns for investors.
Research History
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22 Mar 2024 1 min read
QuotedData’s Weekly News Show Special: Has the tide turned?
In this week’s show, James Carthew hosted a panel discussion between James Hart from Witan, Nish Patel from Columbia Threadneedle & Jonathan Brown from Invesco on growth investing. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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17 Mar 2023 1 min read
Interview with James Hart from Witan Investment Trust
In this week’s show, James Carthew spoke to James Hart from Witan Investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would […]
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05 Jan 2023 9 min read
QuotedData’s Investment Companies Roundup – January 2023
December 2022 Monthly roundup | Investment companies Winners and losers in December 2022 The Financials sector only has two constituents, one of these – Trian Investors 1 – has seen its discount narrow since it promised to return cash to investors by next June, and it has also benefited from underlying NAV appreciation. Last month’s […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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16 Aug 2021 1 min read
Interview with Andrew Bell from Witan Investment Trust
In this week’s show, James Carthew talked to Andrew Bell from Witan Investment Trust Watch it again here. If you were looking for QuotedData’s roundup of the week’s news, this is now in the news section – just click here. If there is a guest speaker you’d particularly like to hear from, please email us – [email protected].
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10 Sep 2020 5 min read
QuotedData’s Economic Roundup – September 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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08 Jun 2020 8 min read
QuotedData’s Economic Roundup – June 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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05 Jul 2019 3 min read
QuotedData’s investment companies roundup – July 2019
Investment Companies Roundup New research Over June, we published notes on CQS Natural Resources Growth and Income, Standard Life Private Equity and Shires Income. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – there was a greater appetite for risk in June as […]
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08 May 2019 3 min read
QuotedData’s investment companies roundup – May 2019
Investment Companies Roundup New research Over April, we published notes on Henderson Diversified Income, Ecofin Global Utilities and Infrastructure, Jupiter Emerging and Frontier Income, Seneca Global Income & Growth and Polar Capital Global Financials Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was […]
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05 Apr 2019 4 min read
QuotedData’s economic roundup – April 2019
Kindly sponsored by Polar Capital Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy […]
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14 Sep 2018 2 min read
QuotedData’s Economic round up – September 2018
QuotedData’s Economic round up – September 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Nov 2017 1 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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2 min read
QuotedData’s economic round up – September 2017
QuotedData’s economic round up – September 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to […]
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14 Jun 2017 1 min read
QuotedData investment companies roundup – June 2017
QuotedData investment companies roundup – June 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2017. Kindly sponsored by Baillie Gifford. June Investment Companies Roundup Japan was one of the best places to be […]
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10 Apr 2017 1 min read
QuotedData investment companies roundup – April 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. April Investment Companies Roundup
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1 min read
QuotedData’s round up of views on the global economy – April 2017
A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the companies mentioned. Kindly sponsored […]
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15 Mar 2017 1 min read
QuotedData investment companies roundup – March 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of February 2017. Kindly sponsored by Baillie Gifford. March Investment Companies Roundup
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14 Feb 2017 1 min read
QuotedData investment companies roundup – February 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
News
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27 Dec 2024 5 min read
QuotedData’s review of the year 2024
This is the last of our weekly emails for 2024. We hope that you have been finding them useful. 2024 has been a year of setbacks and shrinkage for the UK investment companies industry, topped by the cynical and self-serving attack on seven trusts by US corporate raider Saba Capital (there will be much more […]
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13 Sep 2024 3 min read
Alliance Trust and Witan publish circulars for their merger
Alliance Trust (ATST) and WTAN have published circulars in relation to their proposed merger, which, if it proceeds, will see a voluntary winding-up of Witan with its assets rolled into ATST, with the combined entity to be renamed Alliance Witan Plc (you can see our coverage of the original announcement here). The details announced with […]
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13 Aug 2024 1 min read
QuotedData’s morning briefing 13 August 2024 – NESF, SYNC, WTAN, DGI9, VSL
In QuotedData’s morning briefing 13 August 2024: Pleasingly, at yesterday’s AGM, NextEnergy Solar Fund’s (NESF) shareholders overwhelmingly backed the company (94:6) to carry on with its existing objective. Syncona’s (SYNC) NAV has slipped again – by 4.9% over the three months ended 30 June. The value of its life science portfolio fell by 8.3% and […]
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28 Jun 2024 1 min read
QuotedData’s weekly news show 28th June 2024
Thank you to everyone that listened in today on our YouTube channel. In this week’s show, Matthew Read covered the week’s top stories: Alliance Trust/Witan (0:00) Bankers (9:08) JPMorgan Global Core Real Assets (11:10) Home REIT (13:09) This week’s interview was with Nick Train from Finsbury Growth & Income Trust– watch it again here.
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26 Jun 2024 3 min read
Alliance and Witan to combine
Alliance Trust (ATST) and Witan Investment Trust (WTAN) have announced that the two companies will combine to form Alliance Witan. Under the new deal, Witan’s assets will be rolled into Alliance Trust in exchange for the issue of new ordinary shares in the newly-named Alliance Witan. Specifics of the deal include: Alliance Trust’s investment strategy, […]
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03 May 2024 1 min read
QuotedData’s weekly news show 3rd May 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberforth Split Level Income (0:33) • Chrysalis (6:24) Andrew McHattie highlighted a number of funds that were looking unusually cheap or expensive (10:24). This week’s interview […]
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22 Mar 2024 1 min read
QuotedData’s weekly news show 22nd March 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • abrdn Property Income (0:34) • Hipgnosis (3:24) • Scottish Mortgage (5:18) • Witan (8:32) In today’s show, James discussed the merits of the bid for abrdn […]
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18 Mar 2024 2 min read
Witan is up for grabs with CEO stepping down
Witan Investment Trust (WTAN) says its CEO Andrew Bell intends to step down this year after 14 years in the job. The board is taking this opportunity to review Witan’s management arrangements as well as beginning the search for his replacement. [QD comment: It has to be acknowledged that the trust’s returns have been poor. […]
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2 min read
QuotedData’s morning briefing 18 March 2024 – JPEL, OCI, AIRE, ASLI, CHRY
In QuotedData’s morning briefing 18 March 2024: JPEL Private Equity (JPEL) has released its 31 December NAV, along with its semi annual report. Its NAV per share declined from $1.63 to $1.50, giving it a total NAV of $21.6m. The decline in NAV is primarily due to mark to market adjustments in JPEL’s investment in […]
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10 Oct 2023 1 min read
QuotedData’s Investment Trust Forum 2023
Welcome to the videos from the Investment Trust Forum 2023. The conference was for investment analysts, research committees and portfolio managers from all the major asset management groups, banks, stockbrokers, wealth managers and IFA networks and offered presentations and panel discussions on a range of topics. We were pleased to have panel sponsorship from Witan […]
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15 Aug 2023 1 min read
QuotedData’s morning briefing 15 August 2023 – SCP, WTAN, APEO
Schroder UK Mid Cap (SCP) announced the appointment of Harry Morley as an independent non-executive director of the company, effective from 1 September 2023. Mr Morley has also been appointed a member of the Audit and Risk, Management Engagement, Nomination, and Remuneration Committees. Witan Investment Trust (WTAN) released its half year results for the period […]
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21 Mar 2023 2 min read
QuotedData’s morning briefing 21 March 2023
Crystal Amber Fund (CRS) announced results for the six months ended 31 December 2022. The total return was 4.4%, comfortably ahead of the benchmark Numis Small Cap Index return of 1.3%. Despite the solid performance, NAV fell 10% and the discount now sits at around 25% as the company continues to wind down after failing […]
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15 Mar 2023 2 min read
Hopeful outlook after tough year for Witan Investment Trust
Witan Investment Trust announced its final results for the year ended 31 December 2022. While performance improved in the back half of the year, the company underperformed over the 12 month period, with the share price down -9.8% compared to a benchmark return of -6.2%. NAV fell 10.3% while the discount was 5.4%. Management acknowledged […]
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22 Sep 2022 2 min read
QuotedData’s morning briefing 22 September 2022
In QuotedData’s morning briefing 22 September 2022: Pantheon Infrastructure’s (PINT) first set of figures, covering the period from launch to 30 June 2022, show that £98m was invested at that date, but as of today £344m or 88% of the £400m IPO proceeds have been deployed. As we know, the subscription share exercise raised a […]
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08 Jul 2022 6 min read
QD view – Multi-manager trusts – a safe haven in current choppy markets?
What a week it has been in UK politics and markets. As I write, the political manoeuvring in Westminster continues to dominate the headlines and, from what I can see, this tale clearly has some way to go and so it will be grabbing more than its fair share of airtime for a while yet, […]
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06 May 2022 1 min read
QuotedData’s weekly news show 6th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Andrew McHattie covered the week’s top stories: Weiss Korea Witan Apax Global Alpha Greencoat UK Wind EP Global Opportunities abrdn China This week’s interview was with Gary Moglione of […]
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16 Mar 2022 3 min read
Witan more than doubles last year’s dividend thanks to revenue reserves
Witan more than doubles last year’s dividend thanks to revenue reserves – Witan (WTAN) has posted its final results for the year to 31 December 2021. During the period, the trust’s NAV increased by 15.8% while its share price total return was 11.9%. NAV uplift from share buybacks offset the majority of the company’s ongoing […]
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11 Mar 2021 3 min read
Witan has better second half
Witan has better second half – After lagging its benchmark by 12.6% over the six months ended 30 June 2020, over the rest of the year it managed to claw some of this back. For 2020 as a whole, Witan returned 4.2% versus a 9.5% return for its benchmark. The dividend for the year increased […]
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04 Sep 2020 1 min read
QuotedData’s weekly news show 4 September 2020
In QuotedData’s weekly news show 4 September 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Witan’s new global managers and Greencoat UK Wind’s planned fundraise Andrew McHattie also covered some interesting recent discount and share price […]
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2 min read
Witan appoints WCM and Jennison Associates to manage global growth portfolios
Witan has announced that it has appointed WCM Investment Management (WCM) and Jennison Associates (Jennison) to manage global growth portfolios. The portfolio transition took effect during the latter part of August. WCM has been allocated $200m to manage (8% of Witan’s assets), while Jennison has been allocated $100m to manage (4% of Witan’s assets). Witan […]
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1 min read
QuotedData’s morning briefing 4 September 2020
In QuotedData’s morning briefing 4 September 2020: Weiss Korea Opportunity (WKOF) has announced interim results for the half-year ended 30 June 2020. During the period, WKOF provided an NAV total return of 11.3%, outperforming its reference index, the MSCI Korea 25/50 Net Total Return Index, which decreased 1.7% (all figures in sterling total return terms). Capital […]
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02 Jun 2020 1 min read
QuotedData’s morning briefing 2 June 2020
In QuotedData’s morning briefing 2 June 2020: Witan has published an analysis of its performance in 2020. “In broad terms, our 12% underperformance has been due mainly to the underperformance of our underlying portfolio (9%), exacerbated by being geared into a market fall (2%), with an additional 1% being the cost of the early repayment of […]
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01 Jun 2020 1 min read
Allocation update from multi-managed Witan
Multi-managed global sector company, Witan (WTAN), has announced some changes to management arrangements. Principally, exposures to Europe, through CRUX Asset Management and S.W. Mitchell Capital, have been sold (after having been substantially reduced over February) while the global portfolio managed by Pzena Investment Management has been sold as well. In the latter’s case, the majority of the […]
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12 May 2020 2 min read
QuotedData’s morning briefing 12 May 2020
In QuotedData’s morning briefing 12 May 2020: Gore Street Energy Storage says that construction work on its two 50MW battery projects in Northern Ireland has restarted (subject to social distancing measures). Construction is scheduled to be completed in December 2020, allowing sufficient time to complete necessary asset testing before the assets go online. the DS3 contracts […]
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26 Mar 2020 2 min read
QuotedData’s morning briefing 26 March 2020
In QuotedData’s morning briefing 26 March 2020: As the excitement of yesterday’s $2trn stimulus gave way to the reality of sharply rising cases in the US and stories of a potential uptick in cases in Japan (where the virus seemed to be under control) markets are falling once again. NB Private Equity has increased its borrowing […]
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12 Mar 2020 1 min read
Good year for Witan
Good year for Witan – Global investment trust, Witan reported a return of 21.3% on its NAV for 2019, 1% ahead of its benchmark. Shareholders did slightly better than that, with returns of 22.1% as the discount narrowed from 1.3% to 0.7%. The dividend was upped by 13.8% to 5.35p (doubling in a decade). Returns […]
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12 Feb 2020 1 min read
QuotedData’s other news 12 February 2020
In QuotedData’s other news 12 February 2020 – Witan Investment Trust has announced that it has become a signatory of the UN supported Principles for Responsible Investment (PRI). The PRI signatories are a global network of asset managers, owners and service providers working together to put responsible investment into practice and to report publicly on their progress in […]
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06 Jan 2020 1 min read
QuotedData’s other news 6 January 2020
In QuotedData’s other news 6 January 2020 – Global-focused Witan (WTAN) Witan has introduced a revised performance benchmark with effect from January 2020. The benchmark is now 15% UK equities and 85% Global equities. The effective UK benchmark weight will be approximately 19% since, in addition to the specified 15% in the UK, the global […]
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18 Sep 2019 1 min read
QuotedData’s other news 18 September 2019
In QuotedData’s other news 18 September 2019 – Standard Life Investments Property Income Trust (SLI) has announced its interim results for the six months ended 30 June 2019. During the period, SLI’s NAV total return was 2.7% for the period ended 30 June 2019, which was generated by like for like portfolio growth combined with profits […]
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1 min read
Witan announces benchmark tweak
Witan (WTAN) has announced that, following a review of its performance benchmark, it will tweak the allocation from January 2020. The effect be to give the benchmark a more global bias. In summary, the new benchmark will be 15% UK (FTSE All Share Index), which with previously 30%; and 85% Global (FTSE All World Index), […]
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13 Aug 2019 1 min read
QuotedData’s other news 13 August 2019
In QuotedData’s other news 13 August 2019 The global smaller companies fund, Smithson (SSON), has reported interim results covering the period from its incorporation in August 2018 to 30 June 2019. From the date of the company’s launch on 19 October 2018 to 30 June 2019, NAV per share total return was 20.3% compared with the MSCI […]
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2 min read
Witan underperforms benchmark by 1.4% over first-half
Witan underperforms benchmark by 1.4% over first-half – The £1.87bn market cap closed-end fund, Witan (WTAN), uses a multi-manager strategy to provide investors with exposure to global equities. The company has this morning reported half-year results covering the period to 30 June 2019, over which it delivered a NAV total return of 13.5%, which was […]
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25 Jul 2019 1 min read
Witan borrows for 32 years
Witan borrows for 32 years – Witan Investment Trust has agreed to issue a £50m fixed rate 32 year secured private placement note at a coupon of 2.39%. The announcement says that the purpose of this transaction is to obtain fixed rate long dated sterling denominated financing at a pricing level that it considers attractive. Witan […]
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24 May 2019 1 min read
QuotedData’s other news 24 May 2019
Secure Property Development & Investment (SPDI) has provided an updates on the sale of its non-Greek assets to Arcona Property Fund N.V. Witan Investment Trust has announced that shareholders approved its proposed five-for-one share split at the company’s Annual General Meeting on 1 May 2019. The split will take effect from 28 May 2019. BMO […]
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12 Mar 2019 2 min read
Contrasting fortunes of F&C and Witan in 2018
F&C Investment Trust has reported an NAV total return of -3.3% for 2018, marginally better than its benchmark’s -3.4% return (it uses the All-World Index). Shareholders benefited from a narrowing discount, however and the trust delivered a share price total return of -0.6%. The annual dividend per share was up 5.8% to 11.0p, well above the 2.1% […]
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13 Mar 2018 2 min read
Witan – a good year for active management
Witan has announced its annual results for the year ended 31 December 2017. During the period, the trust provide an NAV total return of 19%, thereby outperforming its benchmark’s return of 15.1%. The trust discount to NAV reduced during the period from 4.0% to 1.6% at the year-end. The dividend increased by 10.5% to 21.0p. […]
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27 Oct 2017 2 min read
Witan swaps Marathon for Crux and SW Mitchell
Witan swaps Marathon for Crux and SW Mitchell – Following a wide-ranging search covering active managers of European equities, Witan has decided to appoint Crux Asset Management Limited and SW Mitchell Capital LLP as specialist European equity managers. They have each been allocated approximately £100m (c. 5% of Witan’s assets) to manage in European equities, […]
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16 Oct 2017 1 min read
Investment Trust Insider on Zero Dividend Preference Shares
James Carthew: there is a future for quality ‘zeros’ Split capital investment trust Jupiter Dividend & Growth (JDT) is approaching the end of its life. It was launched in December 2005 and is by far the oldest of the ‘splits’ that exist today. However, its articles of association say it must wind up on 30 […]
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23 Aug 2017 1 min read
Investment Trust Insider on long term debt
James Carthew: Witan paves way for debt-laden Merchants One headline that caught my eye last week was Witan (WTAN) announcing it had borrowed £30 million at a rate of 2.74% fixed for 37 years. I think that might be a record, in terms of time to maturity, for the investment companies sector. For most of […]
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16 Aug 2017 1 min read
Witan fixes £30m debt for 37 years
Witan fixes £30m debt for 37 years – Witan Investment Trust plc has today agreed to issue a GBP30m fixed rate 37 year secured private placement note at a coupon of 2.74%. The purpose of this transaction is to obtain fixed rate long dated Sterling denominated financing at a pricing level that the company considers […]
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30 May 2017 2 min read
Witan drops two managers to up active share
Witan drops two managers to up active share – Following a review of its five managers with a global equity remit, Witan has decided to consolidate the previous five portfolios into three, under the management of three of its existing managers. Lansdowne Partners (UK) LLP, Pzena Investment Management and Veritas Asset Management will each manage […]
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10 Mar 2017 2 min read
Witan matches benchmark in 2016
Witan made a 22.9% return on net assets over the year ended 31 December 29016, more or less matching the 123.0% return posted by its benchmark. The underlying managers struggled with just three of their ten third party managers, together with the direct holdings portfolio, outperforming their benchmarks. There were significant positive contributions from the […]
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18 Feb 2017 1 min read
Witan appoints new emerging markets manager
Witan Investment Trust has announced the appointment of GQG Partners, LLC as a manager of a segregated emerging markets portfolio for Witan, with an initial allocation of GBP70m, approximately 4% of the Company’s net assets. GQG Partners LLC is an independent, employee-owned investment boutique formed in June of 2016 by Rajiv Jain. As of 31st […]
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07 Dec 2016 1 min read
Witan adjusts its performance benchmark
Witan has reviewed the benchmark it uses to measure its performance and has made the following adjustments: UK reduced from 40% to 30% North America increased from 20% to 25% New allocation to emerging markets of 5% They say that Witan’s benchmark, which is used as a reference point for comparing performance, has evolved over […]
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11 Aug 2016 1 min read
Ben Rogoff joins Witan’s board
Witan Investment Trust has announced results for the six months ended 30 June 2016. During the first half of 2016, the Company’s net asset value total return was +6.4% compared with a benchmark return of +7.7% – reflecting underperformance of 1.3%. Excluding changes in the fair value of the Company’s debt, the NAV total return […]
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28 Apr 2016 1 min read
Witan plans to buy back Aviva’s stake
The Board of Witan Investment Trust announces that it has agreed in principle with Aviva Investors Global Services Limited (“AIGSL”) as agent acting in its capacity as investment manager for and on behalf of Friends Life Limited, to purchase up to Friends Life’s entire holding of 31,636,753 shares (representing 15.8 per cent. of the issued share […]
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09 Mar 2016 1 min read
Another good year for Witan
Witan’s results for the year ended 31 December 2015 show it generating a net asset value total return of 6.4%, 2.9% more than its benchmark’s total return of 3.5%. The share price total return was 5.7%, as the shares moved from a small premium at the end of 2014 to a 0.2% discount at the end […]
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11 Aug 2015 1 min read
Witan outperformance continues
Witan’s results for the first half of 2015 show it beating its benchmark by 1.9% – delivering a total return on net assets of 5.5% compared with a return of 3.6% for the composite benchmark (the FTSE All-Share Index 40%, the FTSE All-World North America Index 20%, the FTSE All-World Europe (ex UK) Index 20% and the […]
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13 Apr 2015 1 min read
Witan takes out long-term borrowing
Witan Investment Trust has today agreed to issue a £21m fixed rate 20 year secured private placement note at a coupon of 3.29% and a £54m fixed rate 30 year secured private placement note at a coupon of 3.47%. They say the purpose of this transaction is to obtain fixed rate long dated Sterling denominated […]
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11 Mar 2015 1 min read
Witan outperforms again
Witan’s results for the year ended 31 December 2014 show them generating a return on net assets of 6.6%, 1.1% ahead of their benchmark (a composite of four different regional FTSE All-World Indices) and well ahead of the 1.2% return on the FTSE All-Share Index. The share price total return was 15.1%, enhanced by the move […]
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18 Feb 2015 1 min read
James Hart joining Witan
Witan has announced that James Hart is joining Witan’s management team to work alongside Andrew Bell on “developing, implementing and communicating Witan’s investment strategy”. After graduating from The University of Exeter in 1992, James joined Olliff & Partners, a stockbroker specialising in closed-end funds. In 1996, he joined Bank Julius Baer to develop the bank’s […]
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02 Dec 2014 1 min read
The alternative plays in investment trusts
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
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12 Aug 2014 1 min read
Witan benefits from discount narrowing but underlying performance dull
WTAN : Witan benefits from discount narrowing but underlying performance dull Witan delivered a return to shareholders of 6.9% for the six months ended 30 June 2014. This was almost entirely down to discount narrowing however as the fund shifted to trade on a 1.5% discount. the underlying net asset value total return was 1.1% […]
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12 Mar 2014 1 min read
Witan : WTAN – annual results
Witan, managed by Andrew bell (pictured) has posted a decent set of results. Over the year ended 31 December 2013 Witan’s net asset value total return beat its benchmark by 8.7% and they increased their dividend by 9.1% to 14.4p. The discount narrowed from 10.2% to 6.1%.
Upcoming Events
Videos
In The Press
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02 Sep 2024 1 min read
AJ Bell Money & Markets: Investment trust show #7
Investment trust show #7:The big charges debate, F&C on the summer market slump, and why investors are paying a premium for 3i Group Laith Khalaf talks to James Carthew about the big merger between Alliance Trust and Witan which is expected to complete in the next few months. https://www.ajbell.co.uk/podcasts/episode/money-markets/2024-09-02
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29 Jul 2024 1 min read
Can we expect broader consolidation among investment trusts?
Cherry Reynard, Portfolio Adviser, 23 JULY 2024: It has been the busiest year on record for investment trust corporate activity, culminating in the creation of the giant Alliance-Witan at the end of June. Much of the merger activity has been concentrated in ‘distressed’ sectors, such as property and China, but the merger of these two […]
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15 Jul 2024 1 min read
Merger mania
Faith Glasgow, AIC Compass, 12 July 2024: It seems that the investment trust arena is gripped by merger mania, with a record six mergers completed in the first half of 2024 alone and more completing or in the pipeline. By far the largest and most high-profile of these deals – indeed, the largest merger ever […]
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11 Jul 2024 1 min read
What does the merger of Alliance Trust and Witan mean for advisers?
By David Thorpe, FT Adviser, 11 July 2024: When Andrew Bell announced in March that he intended to retire as fund manager and chief executive of Witan Investment Trust, it sparked a race across the City to win the fund management contract, which, at around £1.5bn, was among the biggest mandates to come on to […]
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26 Jun 2024 1 min read
‘The most logical move’: Alliance Witan shareholders poised to benefit from better liquidity and lower costs
Valeria Martinez, Investment Week, 26 June 2024: The merger of the Alliance Trust with Witan has been widely regarded as a logical outcome given their shared multi-manager approach, but analysts have warned shareholders of the combined entity may have to stomach higher levels of volatility. Both trusts joined this year’s investment trust M&A drive today […]
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1 min read
Witan and Alliance Trust to merge, but is it a good deal for shareholders?
By Jonathan Jones, Editor, Trustnet, 26 June 2024: Alliance Trust and Witan are to join together in the biggest investment trust merger in history and create the industry’s sixth-largest investment company with around £5bn in assets under management. The announcement, made this morning, comes after Witan had previously announced a strategic review of the £1.6bn […]
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1 min read
Alliance Trust and Witan create £5bn super fund
by Dave Baxter, Investors Chronicle, June 26, 2024: Two popular global stocks investment trusts are to create a £5bn behemoth after Alliance Trust (ATST) announced it would take over its weaker-performing rival, Witan (WTAN). Both trusts invest with a global mandate and use a multi-manager approach, employing other fund houses and investment firms to pick […]
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1 min read
Witan Alliance merger ‘best-fit outcome’, but questions raised over WTAN’s trust holdings
Lauren Hardy, Portfolio Adviser, 26 JUNE 2024: The proposed merger between Witan investment trust (WTAN) and Alliance Trust ATST) is “not unexpected” and “makes sense” amid myriad headwinds for the investment company sector, according to analysts. But while benefits including lower costs, greater liquidity and “increased efficiencies” are welcome, question marks remain as to the […]
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22 Jan 2024 1 min read
Investment trust insider on global trusts
Investment trust insider on global trusts – James Carthew: Global funds can learn from Alliance Trust’s success Our columnist says he is increasingly convinced Alliance Trust makes a ‘core’ holding for investors after its prgamatic multi-manager revamp seven years ago. Last week I discussed how 2023’s markets were dominated by a ‘magnificent seven’ of mega-cap […]
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27 Jun 2023 1 min read
Are ‘dividend hero’ investment trusts keeping up with inflation?
by Kyle Caldwell from interactive investor, 27 June 2023: Research for interactive investor examined whether 19 investment trusts have beaten inflation over the past five years in terms of dividend growth, share price and net asset value (NAV) returns. The minimum aim of every investor should be to ensure that over the long term the […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
By Val Cipriani, Investors’ Chronicle, June 1, 2023: Investment trusts are announcing below-inflation dividend increases, making it more difficult for investors to maintain the real value of their income – although some might be able to catch up in 2024 or 2025. Last week, core infrastructure trust HICL Infrastructure (HICL) said it intends to maintain […]
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28 Mar 2023 1 min read
Investment trust share buybacks: do they benefit private investors?
by Faith Glasgow from interactive investor, 28th March 2023: Share buybacks are used by investment trust boards to reduce the number of shares in circulation, as a mechanism for controlling the trust’s share price discount to net asset value (NAV)… But how far does that work in practice?.. A recent report by broker Numis notes […]
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26 Sep 2022 2 min read
Generalist investment trusts: life in the old dog yet?
By Dave Baxter, Investors’ Chronicle, September 23 2022: It’s testament to the sheer uncertainty of recent times that not a single UK investment trust has launched in the first eight months of 2022. That compares with 16 over the course of 2021 and six in an unpredictable 2020. Some analysts reckon it might even mark […]
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22 Jun 2022 1 min read
Battle of the big three multi-manager trusts: who comes out on top?
by Jennifer Hill from interactive investor, 22nd June 2022: Alliance Trust, F&C and Witan – three big investment trusts that give investors access to a range of managers in one fell swoop. But how do they differ, and which has given investors the most bang for their buck? Three global multi-manager investment trusts – Alliance […]
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23 Dec 2021 1 min read
Bargain Hunter: three trusts shaking things up to tackle their big discounts
7th December 2021 by Kyle Caldwell from interactive investor There are various tools a board can use in an attempt to boost demand for shares. Here are some examples. When an investment trust is persistently out of favour, its board can spring into action in an attempt to tackle its discount… Change at the top In a […]
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16 Mar 2021 1 min read
Investment trust insider on dividend heroes
Investment trust insider on dividend heroes – James Carthew: ‘Dividend hero’ trusts do the right thing Some of the big beasts of the investment company sector have recently published results that cover the impact of Covid-19 on their finances. Among them are a number of ‘dividend hero’ investment trusts that have increased their dividend each […]
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18 Jun 2020 1 min read
Witan IT faces ‘uphill struggle’
Witan IT faces ‘uphill struggle’ as managers lose ‘Midas touch’ By David Brenchley, Investment Week, 15 June 2020 Witan Investment Trust faces “an uphill struggle to repair the material damage inflicted upon what is a strong brand”, according to one broker, as analysts weigh up the 111-year-old trust’s prospects after its managers admitted they may […]
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11 May 2020 2 min read
Preserving family fortunes can protect yours too
Trusts set up to preserve fortunes of rich families can protect YOURS too: here’s how you can invest By JEFF PRESTRIDGE FOR THE MAIL ON SUNDAY PUBLISHED: 22:16, 9 May 2020 | UPDATED: 09:01, 10 May 2020 Terry Smith is one of the shrewdest investors to come out of this country in a long, long time – although he now […]
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28 Jan 2020 1 min read
Investment Trust sackings deliver mixed results
Investment Trust sackings deliver mixed results By Kyle Caldwell, Money Observer’s quarterly trust magazine Kyle Caldwell analyses whether investment trust sackings stretching back over the past 15 years have resulted in improved performance for shareholders James Carthew is quoted in an article looking at changes in investment trust manager (including mergers) which have been on […]
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15 Nov 2019 2 min read
Investing alongside the wealthy
Emma Agyemang, FT Money, 15 November 2019 Family fortunes: how to invest alongside the wealthy What is the secret to keeping wealth in the family? It might just lie in investment trusts. For generations, Britain’s richest families have turned to closed-ended funds to preserve and grow their wealth. Witan Investment Trust was launched in 1909 […]
