The Witan Investment Trust, one of the UK's oldest and largest trusts, has underscored moves to make its portfolio more international with a third allocation to global equities, reducing the amount managed by former sole sponsor Henderson Global Investors.

Chicago-based asset manager Thomas White International will run £150m (€221m) of the trust's money, or 10%. Chief executive Jim Horsburgh said more of the trust's £1.5bn portfolio is now managed actively than ever before.