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BRIEF-Alliance Trust proposes new approach to investment management of equity portfolio
December 15, 2016 / 7:13 AM / 9 months ago

BRIEF-Alliance Trust proposes new approach to investment management of equity portfolio

Dec 15 (Reuters) - Alliance Trust Plc

* Alliance Trust to remain a global equity investment trust offering real returns over medium to long term

* Alliance Trust proposes new approach to the investment management of its equity portfolio

* It will move from a single manager to multiple equity managers. All managers will be rated best-in-class and each will create a focused portfolio of their best investment selections

* New investment approach will help to improve Alliance Trust’s performance on a consistent basis

* Alliance Trust has doubled the level targeted for outperformance, reaffirmed ambition to continue track record of year-on-year dividend growth

* Target to outperform msci all country world index to be doubled from 1% to 2% p.a., net of costs, over rolling three-year periods

* Aims to build on Alliance Trust’s 49-year track record of year-on-year dividend growth

* Agreement reached to sell Alliance Trust investments to Liontrust Asset Management plc for up to 30 million pounds representing a premium of at least 5 million pounds to book value

* Alliance Trust savings continues to make good progress and will remain as part of group; now profitable and well placed to develop further Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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