Threadneedle wins investment trust mandate
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Threadneedle Asset Management is to take over the management of the UK Select trust, formerly managed Scottish Widows Investment Partnership (Swip).
The appointment of new management comes after Swip served notice to terminate the investment management agreement, earlier this year.
In a market statement, the investment trust’s board said it had reached agreement in principle for the appointment on the same management and performance fees as Swip. Threadeedle is set to take over management on or around July 31.
Simon Brazier, who leads the Threadneedle UK equities team, will be responsible for the trust’s portfolio, which will be managed along the same lines as Threadneedle’s UK Equity Alpha strategy.
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