Janus Henderson has appointed Richard Clode as co-manager on the £1.3bn Bankers Investment Trust, the firm announced this morning. He will take over the North American sleeve of the trust on 31 October 2025, following a handover period.
Clode has more than 22 years of investment experience including roles at Gartmore, Moore Capital and Pioneer Investments.
He has served as co-manager of the £1.7bn Janus Henderson Global Technology Leaders fund since 2018, which has delivered a top-quartile return in the IA Technology and Technological Innovation sector over the past one, three and five years.
The announcement said: “His [Clode’s] experience of investing in technology will be particularly valuable, given the dominance of tech in driving growth across the US market”.
It follows a change in tact for the Bankers Investment Trust which has concentrated its portfolio, slashing the number of holdings to around 100, and reduced the number of regional sleeves from six to four.
Analysts at Deutsche Numis said that, as part of the plan to increase relative performance, US exposure has also risen “meaningfully” to around 62% of the total portfolio.
“Investors will be looking for these changes to more meaningfully improve performance, and whilst Bankers net asset value total return has outperformed the MSCI World by 1 percentage point year-to-date, it remains behind after one, three, five and 10 years,” they said.