- Equities investor Scottish Investment Trust said it was reviewing its investment management arrangements, having underperformed its benchmark over the past five years.

The trust had in 2015 adopted a high-conviction, global contrarian investment approach.

Its net asset value total return had since underperformed the sterling total return of the MSCI All Country World Index over the five years ended 30 April.

'The board has therefore appointed Stanhope Consulting to assist it in the review of the company's investment management arrangements,' Scottish Investment Trust said.

'The board invites proposals from established fund management groups, with the experience of managing listed closed-ended funds, designed to deliver, over the longer term, above index returns through a diversified global portfolio of attractively valued companies with good earnings prospects and sustainable dividend growth.'

'Any such proposals will be considered alongside the current management arrangements, which the board notes have delivered strong recent short-term performance.'

'Interested parties are invited to contact Stanhope Consulting.'

At 9:29am: [LON:SCIN] Scottish Investment Trust PLC share price was 0p at 731p

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