LONDON: Witan Investment Trust plc has announced that its CEO, Andrew Bell, plans to retire within the next year. In light of this, the Board is seizing the chance to reassess the trust’s investment management strategy and is open to receiving new proposals for managing its portfolio.
Chairman Andrew Ross reflects on Witan’s strategic evolution since 2004, when it shifted to a multi-manager model and gained independence from any single investment management firm. Despite recent market volatility affecting past gains, Witan’s performance has stayed aligned with its equity benchmark in terms of net asset value total return and has surpassed it in share price total return since the shift.
Given the recent significant shifts in the asset management and investment trust industries, including market dynamics, competitive landscape, governance, and regulatory changes, the Board views CEO Andrew Bell’s retirement as a timely juncture to explore new directions for managing the company’s assets.
Those interested in submitting proposals can reach out to J.P. Morgan Cazenove for more details.
Andrew Bell will maintain his CEO duties until the review concludes and will assist during the transition phase as needed. Meanwhile, Witan’s portfolio management will adhere to its established investment strategy throughout the review period.