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Witan investment trust is planning to plump up its presence in the asset management industry, broadening its appeal to investors.

James Frost, marketing director at Witan, said the board is currently considering a number of opportunities for the future direction of the trust.

Mr Frost said the trust's directors were currently looking at ways of building a presence and wider remit similar to that of Alliance Trust.

The trust took over the management of the Witan Pacific investment trust in 2005 from F&C and is keen to provide management services for other funds.

Mr Frost said: "One of the reasons they were attracted to us was the name and brand."

He added that, by choosing a trust such as Witan to manage the fund, smaller trusts could make cost savings in several different ways. He said a number of business opportunities existed in the current environment, including providing seed capital for managers wanting to set up alone.

He said the fund was also investigating different ways of marketing the trust's services to new investors, after the popularity of its Jump Child Trust fund.

"IFAs as a whole don't really invest in investment trusts," he said. "We try and create demand through private investors."

Mr Frost said the trust's unique management strategy, which operates a multi-manager portfolio with 11 managers looking after 13 mandates, was an attractive prospect for investors.

"As far as we are aware, we are the only multi-manager investment trust," he said. "The multi-manager strategy lets us diversify by stock, manager and investment strategy."

Mr Frost said, despite issues in the past over performance with one manager, there are currently no plans to change the management line-up.

The trust recently gave two of its multi-managers, Artemis and Marathon, an extra £10m each after raising gearing levels to 6 per cent.

Mr Frost said the fund may also increase its investment in corporate bonds to take advantage of current market conditions.

In April, the trust invested £10m in the Pimco Global Credit fund, which invests in investment-grade corporate bonds.

Mr Frost said the investment, representing 1 per cent of the fund's portfolio, could be increased in coming years.