CT UK High Income trust replaces portfolio manager
Philip Webster was appointed portfolio manager of the CT UK High Income trust in April 2017.
In a stock exchange notice today (13 July), the board said the change would take place with immediate effect, but noted the trust's investment policy and objective will remain unchanged.
Webster is a director in the firm's European equity team. In May 2016, he joined BMO Global Asset Management — which was acquired by Columbia Threadneedle in 2021 — from Aberdeen Asset Management, where he was a senior investment manager with the pan-European equity team.
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He was appointed portfolio manager of the CT UK High Income trust in April 2017. On the open-ended side, he also manages the £230m CT Select European Equity fund.
«The board wishes to place on record its thanks to Philip for his commitment to the company and its shareholders since his appointment in April 2017 and wishes him well,» it said.
Over a five-year period, the trust has underperformed the IT UK Equity Income sector on a share price and NAV total return basis. Its share price has returned 3.8%, while the sector is up 33%. On NAV terms, the trust is up 3.3%, while the sector has gained 24%.
Moss has worked at BMO Asset Management for over 25 years. The majority of his industry experience has focused on managing assets on behalf of a wide variety of clients, including investment trusts.
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Prior to his current role at Columbia Threadneedle, he held the role of co-head of global equities at BMO Global Asset Management and is currently the lead manager on the CT Select UK Equity Income fund and the CT (Lux) European Growth & Income fund.
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