(Alliance News) - Edinburgh Investment Trust PLC on Wednesday said it has named Majedie Asset Management Ltd as its investment manager effective immediately.
The company in December had said it would oust its previous investment manager, Invesco.
This was after Edinburgh Investment Trust reported a net asset value per share at September 30 of 660.16 pence, down 5.3% from six months prior.
Shares in the company were 1.2% higher at 546.70 pence each in London on Wednesday morning.
In the six months to the end of September, Edinburgh Investment Trust's NAV total return was negative 3.1%, significantly behind its benchmark - the FTSE All-Share - which rose 4.6% in the same period.
In December, Edinburgh Investment Trust said that over the past three years, the trust has returned 1.6%, compared to the FTSE All Share rising 22%.
By Eric Cunha; ericcunha@alliancenews.com
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Edinburgh Investment Trust PLC (EDIN)