Management changes

RNS Number : 0216R

Mid Wynd Intnl Inv Trust PLC

24 February 2023

 

Mid Wynd International Investment Trust plc (the 'Company')

Legal Entity Identifier: 549300D32517C2M3A561

Management changes at Mid Wynd International Investment Trust plc

The Board of Mid Wynd International Investment Trust plc (the "Company" or "Mid Wynd") announces that Simon Edelsten, 61, lead manager of Mid Wynd will retire as a partner of Artemis Investment Management LLP ("Artemis") at the end of 2023. Simon will be replaced, as lead manager, by Alex Stanic who will join Artemis as Head of Global Equities on 1 March 2023. Simon and Alex will work together over the period up until Simon's retirement to ensure an orderly handover. Alex Illingworth is also leaving the business. In due course Alex Stanic will be joined by two other new members of the global equity team to supplement analysts, Bobby Powar and May Laghzaoui.

Alex Stanic joins Artemis from JP Morgan Asset Management's international equity group. He spent seven years at JP Morgan, where he led on the global equity funds in the Global Specialist team, including the Global Unconstrained Equity Fund. Prior to that he was head of global equities at River & Mercantile, a division he set up in 2009.

It is not expected that the change in management will lead to any significant changes to the Company's investment focus, which is to identify investment themes likely to generate long term growth for shareholders.

Chairman, Russell Napier, said "Simon Edelsten and Alex Illingworth have overseen a highly successful period in the Company's history. Since they took control of the portfolio, in May 2014, until 31 December 2022 the total return of Mid Wynd of 184% has been significantly ahead of the MSCI All Country World Index (GBP) return of 141%. The Board would like to thank them both for their service to our shareholders over what have been tumultuous years in global financial markets; they leave the Company in an excellent position to prosper from here".

The Board welcomes Alex Stanic, who has an impressive long term track record. In order to ensure an orderly handover, S imon will work closely with Alex Stanic and the wider team and is likely to hand over formally fund management responsibilities at the end of September whilst remaining in an advisory capacity until the end of the year.

For further information, please contact:

Artemis Fund Managers Limited

Company Secretary

24 February 2023

 

END

 

 

MSCBBGDDXSDDGXS