Witan Investment Trust (LON:WTAN) is a well-established fund that is unique among its peers in having a predominantly multi-manager approach. It aims to generate capital return and income growth in excess of UK inflation.
The trust currently has allocations to 10 external managers, all with high-conviction investment strategies. Up to 10% of the fund is invested directly in specialist collective assets, including private equity.
WTAN’s NAV performance versus its benchmark is positive over one, three, five and ten years. Its dividend yield compares favorably with the peer group average and the annual dividend has increased for 41 consecutive years.
Investment strategy: Diversified global exposure
WTAN tends to select between 10 and 15 external managers to gain exposure to global equities, aiming to generate long-term capital appreciation and dividend growth in real terms. The managers have high-conviction strategies, focused on both growth and value in developed and developing markets. Direct investments are made with a view to enhancing returns from specialist assets.
WTAN has a composite benchmark based on FTSE world indices of 40% UK, 20% North America, 20% Europe ex-UK and 20% Asia Pacific. Gearing is typically in a range of 5-15%, but up to 20% of net assets is permitted.