Witan Investment Trust recruits new investment director from Cayenne

Witan Investment Trust has recruited the latest member of its investment team.

The company has appointed James Hart as its new investment director. He will take on the role from the second-half of April 2015.

Previously, Hart was employed by Cayenne Asset Management a co-manager of The Cayenne Trust.

At Witan, he will work alongside the company’s chief executive officer Andrew Belle the the executive team to develop, implement and communicate investment strategy.

Meanwhile, Len Gayler, the chief executive of Cayenne Asset Management and also co-manager of Cayenne Trust, has revealed the trust will unlikely last beyond 2016.

In a simultaneous regulatory statement, the Cayenne Trust board said co-manager Gayler was “not prepared to commit to continued management of the company’s portfolio much beyond 2016”.

The board has therefore decided that, subject to shareholder approval, it will “put forward proposals for an orderly realisation of the company’s assets” after August 2016, when the trust intends to sell its assets and return cash to shareholders.