Witan hands mandate to boutique investment manager

Witan Investment Trust has made an initial investment into a global equity strategy run by Latitude Investment Management.

The allocation, which was between £10m-£15m, follows the announcement in Witan's annual report of its plans to allocate up to 2.5% of its assets in smaller mandates to more recently-established third party firms.

The trust runs £2.1bn on behalf of over 25,000 investors using an active multi-manager approach, typically using around ten different investment managers.

The allocation to Latitude, which was spun out of Crispin Odey's Odey Asset Management in 2016, was an investment in the firm's absolute return-focused Global Long Only Equity strategy.

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Latitude's CIO and founder Freddie Lait said the allocation "builds on our marketing efforts to date, and our desire to have a diversified client base across both wealth managers and institutions".

He added: "The Global Long Only Equity strategy is a great opportunity to broaden our offering to clients and we have received very positive feedback on our fundamental investment process."