WTAN aims to deliver long-term growth in income and capital through active multi-manager investment in global equities. Funds are allocated to 10 external managers with c 25% invested in specialist managers and funds. WTAN seeks external managers with the conviction to take views that diverge from benchmark weightings. The trust’s composite benchmark with effect from 1 January 2020 is 15% UK and 85% world (including UK).
With inflation surging, interest rates rising, regional recessions looking imminent and the continued conflict in Ukraine, there is more uncertainty and potential variances of possible outcomes than investors have been accustomed to in recent years, which may suit Witan Investment Trust’s (WTAN) broadly diversified portfolio. In our March 2022 update we reviewed WTAN’s FY21 results and in this note we review the HY22 results, highlight some incremental portfolio changes and take a closer look at three of the external managers.