The board of The Investment Company PLC has agreed to proposals for a new investment policy and portfolio manager, it announced today.
The trust is one of the oldest but smallest trusts available to investors, launched in 1868 but holding a net asset value (NAV) of just £7.48m.
Dowgate Wealth Management will be appointed as the new manager, led by Jeremy McKeown, replacing Chelverton Asset Management.
As part of this, Dowgate will relaunch the fund as a multi-asset strategy, investing in assets with “inherent scarcity and enduring economic relevance”. The new team added the traditional 60:40 portfolio “no longer serves as an effective investment strategy”.
