Alliance Trust – a fund for all seasons? – Investors Chronicle

Alliance Trust‘s (ATST) board took something of a left turn at the lights in 2017 when it ditched its in-house management approach and appointed consultant Willis Towers Watson as external investment manager for the trust. Willis Towers Watson had form in managing institutional investment mandates but little experience of investment trusts held by private investors.
The plan was creative but in line with Willis Towers Watson’s institutional approach. The company became the overall portfolio manager, tasked with appointing a range of sub-managers to pick Alliance Trust’s stock holdings. Each of these runs a concentrated portfolio of their strongest ideas.
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