Witan adds Crux and SW Mitchell for European exposure

Witan adds Crux and SW Mitchell for European exposure

Witan, the £2.2bn multi-manager investment trust, has appointed Crux and SW Mitchell to run the European equity slug of the portfolio.

In a statement to the stock exchange Witan stated it had allocated each firm £100m to deploy into European equities.

The cash came from removing the existing European equity mandate from Marathon Asset Management, and an additional £24m of cash Witan has chosen to deploy to European equities.

SW Mitchell was founded in 2005 and specialises in European equities.

Witan will now have 10 active fund managers covering the various geographical regions.

Andrew Bell, chief executive of Witan, said: “The reason for the new appointments is to increase our actively managed exposure to European equities, for which the political and economic backdrop has improved during 2017.

"We took a more positive view on the region in April, ahead of the French Presidential election, using equity index futures to increase our exposure while we conducted a search among available high-conviction active managers, in order to increase the stock-specific focus of our portfolio and its potential to outperform.”