Manager News – December 2020

Invesco Income Growth Trust:  1st December 2020

Invesco will merge the Invesco Income Growth Trust into the Invesco Perpetual Select Trust UK Equity Portfolio investment trust.  Existing investors can choose to rollover into the new trust or receive the cash equivalent of a 2.5% discount to underlying net asset value (NAV) per share; limited to 30% of share capital.

 

Jupiter UK Growth Trust:  3rd December 2020

After announcing in October that the Jupiter UK Growth investment trust would be wound up, shareholders are being give the option of either transferring to the Brown Advisory Global Leaders fund, or receive a cash redemption.

 

Jupiter Asset Management:  4th December 2020

 Fund managers James Clunie, Alastair Gunn and Michael Buhl-Nielsen are all set to leave Jupiter Asset Management following a review of its fund range.   Talib Sheikh, along with the Multi Asset Team, will take responsibility for the Jupiter Absolute Return, Jupiter Distribution and Jupiter Distribution & Growth funds.

 

Keystone Investment Trust:  7th December 2020

The board of the Keystone Investment Trust is seeking shareholder approval to hand management of its portfolio from Invesco to Baillie Gifford’s Positive Change strategy, with it transforming from a UK focused product to one with a global remit.

 

Jupiter US Smaller Companies Trust:  9th December 2020

Christopher Berrier of Brown Advisory has been appointed by the board of the Jupiter US Smaller Companies investment trust to manage the portfolio in April 2021.  Berrier will take over from Robert Siddles, who will retire and had been in charge of the trust since 2001.  In addition to the manager change, the trust will be renamed Brown Advisory US Smaller Companies.

 

AXA UK Growth:  16th December 2020

 

AXA Investment Managers has appointed Nigel Yates of NFU Mutual to manage the AXA Framlington UK Growth fund, succeeding Jamie Hooper, who is leaving the firm.  Yates will also be responsible for developing AXA’s range of sustainable funds.

 

Columbia Threadneedle European Select:  18th December 2020

David Dudding has announced he will step down as lead manager of the Columbia Threadneedle European Select and European Select AE funds, to focus on the Global Focus funds he has managed for the firm since 2013.  Benjamin Moore, who was a co-manager alongside Dudding, will take over the strategy, with support from Roberta Zeno.