Barnard joined the asset manager in April 2022 as part of the acquisition of Majedie Asset Management, where she had already worked as an equity analyst for six years.
Imran Sattar is set to take over the portfolio at the start of February once longstanding manager James de Uphaugh retires. His appointment was first announced in October, when he became deputy portfolio manager, replacing Chris Field, who retired from Liontrust in November.
James de Uphaugh to retire after 36-year career
In a stock exchange notice today (11 January), the trust said Sattar will continue to apply the same flexible investment process.
“Other than the change of portfolio manager, there will be no change to its two investment objectives, strategy or the portfolio’s key features – namely a high conviction portfolio of 40 to 50 differentiated holdings, primarily invested in UK equities, underpinned by fundamental company research,” it said.
The trust’s shares are currently trading at a 8.6% discount to net asset value, the widest discount of the Association of Investment Companies UK Equity Income sector.
“This is perhaps unsurprising given the further changes in the management team around 3.5 years after taking over,” wrote Numis analysts Ash Nandi and Ewan Lovett-Turner in a research note.
