Pacific Assets Trust expects 'no change' after portfolio manager exit

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Pacific Assets Trust PLC on Thursday said that its co-portfolio manager David Gait has resigned as of Tuesday.

The Edinburgh-based investor in the Asia Pacific region, excluding Japan, is managed by Stewart Investors, and David Gait was assigned to the Pacific Assets portfolio alongside Douglas Ledingham.

Ledingham remains the portfolio lead, and is now supported by Jack Nelson, who previously led Stewart Investors Global Emerging Markets.

Pacific Assets said it does not expect any ‘change to the investment approach’.

The trust’s shares were 0.1% higher at 356.50 pence on Thursday morning in London, for a market capitalisation of £421.3 million.

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