Investment Trust drops Goldman as portfolio manager
Joe McGrath, 11 March 2010
F&C Asset Management has confirmed that it has dropped Goldman Sachs Asset Management as the manager of its Japanese portfolio for the F&C Investment Trust.
Management of the portfolio is returning in-house after almost five years of outsourcing to Goldmans.
F&C said that, at the time it was outsourced, the fund was performing poorly and manager Jeremy Tigue had decided the best thing to do was to place the portfolio with a quantitative analysis team at Goldman.
Since then the in-house team has gone ahead of the sector average and so F&C decided to return management in-house.
Tigue explained, ‘The point is that after 20 years of underperformance, at some stage Japan will have some good performance and by making this change we are more likely to be able to spot this and do something about it.’
Advertisement
Spread Trading. New from Halifax Share Dealing
£100 credit when you open five trades within 60 days – terms apply. Spread Trading is not for everyone please ensure you understand the risks as you may lose more than your initial deposit. Click here for more information.
The TaxGuide.co.uk has a wealth of tips and advice from working out your tax bill, through to the latest personal tax rules. Get your personal tax tips today.
FREE Report: Inside Investment Trusts
Written by the team behind What Investment, this exclusive FREE report covers:
- Why Investment Trusts are better than Unit Trusts
- How new legislation is broadening the appeal of Investment Trusts
- Where to look for buying opportunities
- Why now is the time to buy Investment Trusts
- The Investment Trusts to invest in at the moment


Comments
Please register or login to comment on this article.