GQG to manage a segregated emerging markets portfolio for Witan
Witan Investment Trust (WTAN) has announced the appointment of GQG Partners to manage £70m (c 4% of WTAN’s net assets). GQG is an investment boutique formed in June 2016 by Rajiv Jain. As at 31 December 2016, it had £615m of assets under management across three products: global, international and emerging market equities, with a focus on long-term, quality growth investment. GQG runs concentrated, low-risk portfolios that are benchmark agnostic. The appointment of GQG follows WTAN’s change of benchmark at the beginning of 2017, where emerging markets now represents 5%, having had a zero weighting in the old benchmark.
WTAN is a self-managed global investment trust which adopted a multi-manager investment approach in 2004, with the aim of reducing the performance volatility that can arise from dependence on a sole manager. Funds tend to be allocated to between 10 and 15 external managers who have high-conviction investment processes in both growth and value strategies, focusing on long-term fundamentals rather than short-term momentum. Global managers were allocated c 45% of total assets as at H116; they are not constrained by regional allocations. The balance of the fund is allocated to regional managers and up to 10% is invested in collective funds selected by WTAN’s executive team.
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