The Board of The Edinburgh Investment Trust plc announced today that it is appointing Invesco Asset Management Limited as Manager of the Company. Neil Woodford, Head of Investments, will take over the management of the assets of the Company on 15th September.
Founded over 115 years ago, The Edinburgh Investment Trust plc is the largest UK income growth investment trust, with assets of approximately £1 billion(a). It focuses mainly on large UK companies, from a variety of different sectors and its objective is to achieve capital growth at a higher rate than the FTSE All-Share and dividend growth above the rate of UK inflation.
Scott Dobbie, Chairman of The Edinburgh Investment Trust plc, said: "The Board is delighted to announce the appointment of Invesco Perpetual to manage The Edinburgh Investment Trust plc. Invesco Perpetual has extensive experience and an excellent reputation in managing closed ended funds and Neil Woodford has an outstanding track record in managing UK equities. We look forward to working with Neil and the Invesco Perpetual team.”
Graeme Proudfoot, Head of Specialist Funds at Invesco Perpetual, added: “We are thrilled to have been appointed by the Board of The Edinburgh Investment Trust plc, one of the oldest and best known names in the investment trust sector. At Invesco Perpetual we aim to deliver an innovative and top performing range of funds and we look forward to demonstrating our ability, and the expertise of Neil Woodford, to the shareholders of this Company.”
Notes to Editors
(a) Source Cazenove as at 11 September 2008
Invesco Perpetual is part of Invesco Ltd, a leading independent global investment management company, dedicated to helping people worldwide build their financial security. By delivering the combined power of our distinctive worldwide investment management capabilities, including Invesco AIM, Atlantic Trust, Invesco, Invesco Perpetual, Invesco PowerShares, Invesco Trimark, and WL Ross. Invesco Ltd provides a comprehensive array of enduring investment solutions for retail, institutional and high net worth clients around the world. Operating in 20 countries, the company is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Further information about Invesco Perpetual can be found at www.invescoperpetual.co.uk
Invesco Perpetual is a business name of Invesco Asset Management Limited. Authorised and regulated by the Financial Services Authority.