Former investment banker Gary Channon rebuilt his stalled financial career with a sustained performance run from his investment boutique Phoenix Asset Management since 1998. Now he is out to raise a struggling investment trust from the ashes.

Phoenix, which manages £550 million, started to run the £30 million Aurora Investment Trust in January. Aurora's board is chaired by Conservative politician Howard Flight, who stepped down as deputy chairman of the party in 2005. It is looking to Channon to revive its performance, which has gone nowhere since 2012.