Newspaper clipping from the Scotsman - September 2001
DENT LANDS TOP POST AT FRIENDS
Julie Dent has become one of Scotland's top fund managers with her appointment by Edinburgh-based Friends Ivory & Sime as fund manager for its British Assets Trust with �686 million under management.
On 1 October she will replace John Stubbs, who is retiring at the end ofthe year.
Dent, who studied civil engineering and graduated with an MBA degree, joined FIS in 1986 as a trainee and has more than 15 years experience in managing international equities.
She has been director of global equities at FIS since 1998 and has held the position of fund manager for Asian equities and Japanese equities.
FIS managing director of retail and institutional business development, Peter Arthur, said: "With over 15 years experience managing international equities on behalf of third party clients, we are confident that Julie will ensure that the assets are professionally managed and continue John's very good investment record."
Chairman of British Assets Trust, William Thomson said: '~The board looks forward to working with Julie as the Iead manager of British Assets Trust. We will continue to focus upon the long-term interests of our shareholders. Julie has been assisting John for the last six months to ensure a smooth transition in the investment management position."
At 30 June BAT had total assets of �686 million, with about 75 per cent invested in UK equities and 25 per cent overseas.
Considered a relatively conservative investment vehicle, primarily consisting of blue chip equities, BAT has about 30,000 shareholders - most of which are private investors.
Dent said: 'The challenge will be to drive the fund forward in a difficult market. We might consider adding some specialist small cap funds to the portfolio, but do not plan to make any drastic changes. It is not intended to be a high-risk investment."
In its last financial year, BAT generated a net asset value total return of 20.7 per cent against 13.1 per cent for its benchmark. In the nine months to 30 June
BAT retumed -3.5 per cent, against -9.1 per cent for its benchmark- a combination of the FTSE All-Share Index and the FTSE World Index. BAT officials said that they expect the current weakness in equity markets to Iast until the end of the year. But they added that the trust is increasing its gearing so it is able to take advantage of any attractive investment opportunities in the current market.
(Julie's e-mail address is: [email protected])
Richard Barwell (3 Sands Lane, Scotter, Gainsborough, LincoInshire.DN21 3TX) retumed his slip to say he was sorry not to be able to attend the Dinner but will hopefully be in touch for this year and looks forward to attending a Summer Sports match. He is not in touch with Brian Bowers as he used to be since Brian moved away from Scotter but was able to pass on a Newsietter.
Ben Rawlings (V.of A. Head Boy from the Brigg Sixth Form) applied to the Association for sponsorship for a sailing venture as many of our readers will have read in the local paper and in next year's issue we hope to have a detailed account of his trip. Ben's home address is "Ladysmith Cottage", Worlaby, Brigg, North Lincs.DN20 ONN.
Also in the same area lives Philip Parrott (10, Hall Meadow, Bonby, Brigg, North Lincs.DN20 OQP). I believe some of our members met Philip in last years School v Briggensians' Golf challenge and will be pleased to know that he will be on our side from now on as he has paid his "Life Membership".
Another former pupil sending his 'fee for life' was Ian Wild (1963-1970) who lives at 15, Ashley Court, High Street, Yiewsley, Middlesex.UB7 7DN.
If anyone was asked to say where the greatest number of Briggensians gathered together during the last year, we may have some interesting answers...have a guess! ! Well, it was not Wembley this year but it could have been Tranmere. I have not seen so many familiar Briggensian faces together since Wembley but there were plenty of them cheering on Brigg Town in the 1st Round of the F.A.Cup back in November (after good support at Boston in October). As well as the support for all the Brigg team there was a special support for our own Briggensian Steven Jordan (88-93) playing in goal. The Briggensians (as well as many others) raised the roof and left the Tranmere fans in no doubt as to what we thought of our Steven...What a day to remember!
Finally in this section, after the death of Col. Nelthorpe (May 2000), the Association had to appoint a new President. At the AGM there was unanimous backing for Mr. Roy O'Neill to succeed the Colonel and this he did feeling very honoured as he attended the 2001 Annual Dinner in his new office to the Association; We all know that we are all in "good hands" and value his experience in such a position. We all wish him well, as President and it could be a first as a non-Nelthorpe named President. We know all will be well and wish you the very best ...especially with your health.