Change in portfolio management responsibilities

RNS Number : 0269C

North American Income Trust (The)

13 January 2015

 



13 January 2015

The North American Income Trust plc

Change in portfolio management responsibilities

The board of The North American Income Trust plc (the "Company") announces that Paul Atkinson, the Philadelphia-based Head of North American Equities, will be leaving Aberdeen Asset Management PLC and returning to Europe with his family at the end of June 2015.

Paul, who leads the team of 13 investment professionals responsibile for managing the Company's assets, will be succeeded upon his departure by Ralph Bassett, the Deputy Head of North American Equities since 2012.  The board has concluded that Ralph along with his colleague Fran Radano, Senior Investment Manager in the North American Equities team, who joined Aberdeen in 2006 and 2007 respectively, should act as joint managers of the Company's portfolio on Paul's departure at the end of June.

Paul has worked closely with Ralph and Fran for the past seven years and will continue to do so to ensure an orderly transition over the coming months.  Aberdeen's North American Equities team will continue to apply its bottom-up fundamental investment process to the Company's portfolio.

The board would like to thank Paul for his hard work since assuming responsibility for management of the Company's assets in 2012.

Enquiries:

Gary Jones, Aberdeen Asset Managers 020 7463 6000

Neil Morgan, Winterflood Investment Trusts 020 3100 0000

 

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