JP Morgan Asset Management global equity portfolio manager Sam Witherow has been appointed co-manager of the JP Morgan Global Growth and Income Trust, the firm announced on Wednesday.
This news follows the announcement in July that Timothy Woodhouse will step down from the trust at the end of September.
The trust has been the best performer in the IT Global Equity Income sector over the past decade, up 306.1% and is the second best over three years, although its performance over the past12 months sits it in fourth place in the six-strong sector.
Witherow joins the existing team of FE fundinfo Alpha Managers, Helge Skibeli and James Cook on the trust. He joined the firm as a graduate trainee in 2008 and was previously a research analyst responsible for covering the energy sector.
Witherow has worked with Skibeli since 2019 as co-manager on the £731m JPM Global Equity Income fund, which has delivered a 78.4% return for investors over the past five years, as well as on the offshore JPM Global Dividend fund.
He was also co-manager of the JPM Global Unconstrained Equity fund from 2015-2019.
Analysts at Deutsche Numis said this is the latest in several changes to the trust’s management team over the past two years and investors “will be looking for the company to deliver a period of outperformance”.