Veteran investment trust picker Peter Hewitt is to retire from fund management in October after 17 years running the £147.5m market capitalisation CT Global Managed Portfolio Trust.
From 1 June 2025 the portfolios will be managed by Adam Norris and Paul Green, who will be supported by Hewitt until his retirement at the end of October.
They will fall under the broader EMEA multi-asset solutions team (of which they are members), which is headed by F&C Investment Trust fund manager Paul Niven.
Norris and Green have a combined 35 years of investment experience and currently manage a number of income and global growth multi-asset, multi-manager portfolios with assets totalling circa £1bn, Columbia Threadneedle said in a statement.
“While the new portfolio managers have some different perspectives on how the portfolios should be positioned, the company will continue to invest in a broad spread of investment companies, covering a variety of geographies, sectors and investment managers,” Columbia Threadneedle noted.
Since its launch in April 2008, the trust has made investors 155.4%, almost double the returns of the average peer in the IT Flexible sector and 23 percentage points behind the FTSE All Share index.
Performance of trust vs sector and benchmark since launch
Source: FE Analytics
James Carthew, head of investment company research at QuotedData, said: “We’ll be sorry to see Hewitt go. CT Managed Portfolio shareholders will miss the benefit of his wisdom. I wish I wasn’t unnerved by the line ‘the new portfolio managers have some different perspectives on how the portfolios should be positioned’ but I am. The thinking behind that will need communicating to investors.”