|Bid||0.00 x 1000000|
|Ask||0.00 x 278700|
|Day's range||491.62 - 500.50|
|52-week range||299.00 - 523.50|
|PE ratio (TTM)||34.01|
|Earnings date||13 Nov 2017 - 17 Nov 2017|
|Dividend & yield||N/A (N/A)|
|1y target est||533.25|
LONDON, Dec (Shanghai: 600875.SS - news) 15 (Reuters) - Scottish asset manager Alliance Trust announced an overhaul of its strategy on Thursday, including outsourcing its equity portfolio management to a group of external investment managers, propelling its shares to record highs. Alliance, one of Britain's largest investment trusts, faced pressure last year from activist investor Elliott Advisors who said it needed a shake-up given the fund's underperformance and the gap between its shares and the value of the assets it holds. Under the new strategy, Alliance, which has total assets of about 3.6 billion pounds ($4.51 billion), will move from having its internal team manage its equity investments to using eight external managers that will each create a portfolio for the trust of around 20 stocks.
European shares ended slightly lower on Thursday as expectations of fiscal stimulus from U.S. President-elect Donald Trump boosted government bond yields, prompting losses among utilities which more than ...