The London-listed Witan Investment Trust has apologised to its investors for what it called “lamentable” results so far in 2020 — a day after sacking several of its fund managers.

In a statement on 2 June, the trust’s chief executive Andrew Bell said that “shareholders could be forgiven for thinking that Witan and its managers had been afflicted with a reverse Midas touch — everything we touch having seemingly turned to lead earlier in the year”.