Fund manager on Liontrust’s global fundamentals team Emily Barnard will become Edinburgh Investment Trust’s (EDIN’s) deputy portfolio manager from 6 February, according to the investment company.
Barnard, who joined Liontrust as part of its acquisiton of Majedie Asset Management in 2022, had previously worked as an equity analyst for the firm for six years and has nine years of investment experience in total. She will work alongside Imran Sittar, who will take over from James de Uphaugh as lead manager of the trust on the 6 February.
Sattar’s appointment was first announced on 3 October with the announcement of de Uphaugh’s retirement. Sattar also joined Liontrust in April 2022 following the Majedie aquisition, and was appointed as deputy manager of the Edinburgh Investment Trust in preparation for the handover last year.
See also: Liontrust’s de Uphaugh and Sattar: Narrowing of UK equity discount is only just beginning
The trust reported that there would be “no change to the company’s two investment objectives, strategy or the portfolio’s key features” which include 40 to 50 holdings mostly within UK equities.
As of 10 January, the trust held £1.1bn in assets and has returned 34.15% over the past five years, ranking fifth in the sector, according to data from FE Fundinfo. The fund is currently trading on a 8.6% discount to its net asset value, according to data from the AIC.
Following the announcement made 3 October, Elisabeth Stheeman, chair of the Edinburgh Investment Trust’s board, said: “Imran has a strong investment pedigree, deep knowledge of the UK equity market, has long experience of managing large investment portfolios, and has worked alongside James and Chris for many years. He and his colleagues are well placed to build on the strong foundations put in place since 2020 and we look forward to working with him.”
See also: Kepler: Edinburgh IT’s succession plan ‘one of continuity’ in run-up to de Uphaugh’s
