EDINBURGH Investment Trust has fired Invesco stockpicker Mark Barnett as its manager following poor performance, in a further blow to the former Neil Woodford protege.

Barnett, who took over the management of the trust from Woodford in 2014, will be replaced by Majedie Asset Management.

The board of Edinburgh Investment Trust said it was ditching Barnett over prolonged investment underperformance caused by a number of stock-specific issues in his portfolio. Chairman Glen Suarez said he was "disappointed" the firm's interim results released yesterday.

(c) 2019 City A.M., source Newspaper