What Next for Edinburgh Investment Trust?

While his successor has not yet been announced, Neil Woodford will be leaving his position as manager of the Edinburgh Investment Trust in April

Jackie Beard, FCSI 17 October, 2013 | 9:51AM

The news this week that Neil Woodford will be leaving Invesco in April 2014 has rocked the fund world. While there’s no need for a panic reaction, it does give rise to a number of questions. And at Edinburgh Investment Trust, there are still some unknowns.

The board of directors at Edinburgh Investment Trust (EDIN) don’t have to announce an immediate replacement in the way that asset management firms do when a star manager resigns. In the latter scenario, there can be some quick internal reshuffling to ensure the best fit for that fund and the response time is rapid.

In the investment trust sector, the board is free to look beyond the auspices of the Invesco UK Equity team. While their contract for the fund’s management is with Invesco, that can be terminated with three months’ notice, so it could be a while before we have clarity on the fund’s future management.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Edinburgh Investment Ord455.00 GBX-0.66

About Author

Jackie Beard, FCSI

Jackie Beard, FCSI  is Director of Manager Research Services, Morningstar EMEA

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