Alliance Trust has selected its eight new equity managers with Jupiter's Ben Whitmore and River & Mercantile's Hugh Sergeant among those given a mandate.
As part of the change in strategy, the £3.3bn trust's new investment manager, consultancy Willis Towers Watson (WTW), has selected eight stockpickers to run a global equity strategy by selecting 20 companies each.
Joining Mr Whitmore and Mr Sergeant are Veritas Asset Management's Andy Headey and five other managers based in the US and Canada.
These include Black Creek Investment Management's Bill Kanko, First Pacific Advisors' Pierre Py and Greg Herr, GQG Partners' Rajiv Jain, Lyrical Asset Management's Andrew Wellington and a trio from Sustainable Growth Advisers.
The managers are split between focusing on value and growth stocks - each currently running a concentrated global equity strategies in their own right.
WTW said the managers were chosen on the basis of competitive advantage and experience and evidence of running a concentrated portfolio.
Alliance Trust chairman, Lord Smith of Kelvin, said: "Under the new approach, Alliance Trust will offer access to best-in-class managers, which, together with a focus only on their best investment ideas, will help to increase the likelihood of consistently delivering improved performance over the long-term.
"We are confident that this new approach, and the managers selected, will meet our ambition and deliver for many more generations to come."
The trust announced its strategy shift in December, and will now look to Craig Baker, WTW chief investment officer, to lead the team responsible for combining the 160-stock portfolio.
As part of the move away from its previous global equity strategy, the trust doubled its investment target to outperform the MSCI World index by 2 per cent, after costs on a rolling three-year period.
In addition to the change in strategy to become multi-manager, the firm sold its Alliance Trust Investments business to Liontrust, including its sustainable investment funds and managers.
New Alliance Trust managers:
| Equity Manager | Lead Individuals | Location | Strategy |
| Black Creek Investment Management | Bill Kanko | Toronto | Growth stocks that are market leaders |
| First Pacific Advisors | Pierre Py and Greg Herr | Los Angeles | Long-term value stocks with sustainable business models |
| GQG Partners | Rajiv Jain | Fort Lauderdale | Stocks with high quality sustainable business models |
| Jupiter Asset Management Limited | Ben Whitmore | London | Contrarian value investing |
| Lyrical Asset Management | Andrew Wellington | New York | Quality stocks that are relatively easy to analyse; value/quality combination |
| River and Mercantile Asset Management | Hugh Sergeant | London | Recovery stocks |
| Sustainable Growth Advisers | George Fraise, Gordon Marchand and Rob Rohn | Stamford | High-quality growth stocks |
| Veritas Asset Management | Andy Headley | London | Real return investing - quality stocks |
