Those Good Returns readers who use UK-listed investment trusts will be interested to hear that Michael Watt is retiring from the role as manager of the Henderson TR Pacific trust after 18 years as a fund manager.
The £196m trust has a strong retail following and Watt has been to New Zealand on many ocassions.
Henderson has appointed Andrew Beal as manager of the company. He joins Hendersons on August 1 and will take charge of the portfolio after a handover period.
He previously managed Asian equities for 10 years at Schroder IM and was most recently lead portfolio manager for emerging markets and Pacific Rim equities for Nicholas Applegate Capital Management in San Diego. His responsibilities there included the PIMCO NACM Pacific Rim Fund.
Deputy manager Michael Kerley was expected to replace Watt on his retirement next year, however it is understood that the board was keen to adopt a fresh approach and was instrumental in the recruitment of Andrew Beal.
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