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A platinum celebration

14 November 2017

Investment companies with 70+ years’ experience.

With the upcoming 70th wedding anniversary of Queen Elizabeth II and Prince Philip, the Association of Investment Companies (AIC) has taken a closer look at the oldest investment companies and which of those share the platinum anniversary with Queen Elizabeth II and Prince Philip.

Launched in 1947, this year sees Henderson European Focus – managed by John Bennett – celebrate 70 years since its launch. Over the past 25 years the fund has returned 2,346% and stood on a premium of 1.4% at the end of October 2017*.

Commenting on the trust’s history and outlook for the future John Bennett, Portfolio Manager of Henderson European Focus Trust plc, said: “Having started my investing career by managing an investment trust, it has been a delight to manage Henderson European Focus Trust for the last 6 years. This is barely a tenth of the company’s history but it has been an important period. Most notably we refined the company’s strategy to a more focused portfolio and, importantly, one which includes smaller and medium sized stocks. As a closed end vehicle the trust is ideally suited to embracing an all cap strategy and I remain as excited by the stock picking opportunities Europe offers as I did on day one of my career. HEFT is the ideal vehicle for expressing that excitement.”

Investment companies have a long history, with an additional 32 investment companies launching more than 70 years ago. Foreign & Colonial Investment Trust is the oldest investment company, having launched in 1868.

Annabel Brodie-Smith, Communications Director of the Association of Investment Companies, said: “Investment companies are the oldest form of collective investment. The first investment company – Foreign & Colonial Investment Trust – launched ‘to provide the investor of moderate means the same advantage as the large capitalist’. Investment companies still have the same purpose today, allowing private investors to hold a range of companies or other assets such as infrastructure and property in one company and spread their investment risk.

“It is a testament to the investment company sector that 33 investment companies have been around for 70 years or more, and are still delivering excellent value to shareholders.”

Investment companies with a history of 70+ years

Company

AIC sector

Launch date

Henderson European Focus

Europe

01/01/1947

Henderson Far East Income

Asia Pacific - Excluding Japan

13/05/1930

Shires Income

UK Equity Income

31/03/1929

JPMorgan European Growth

Europe

15/03/1929

Monks

Global

06/02/1929

JPMorgan Japanese

Japan

02/08/1927

Brunner

Global

01/01/1927

Temple Bar

UK Equity Income

30/12/1926

Finsbury Growth & Income

UK Equity Income

30/12/1926

Murray Income

UK Equity Income

07/06/1923

Hansa Trust

Global

01/01/1912

Witan

Global

17/02/1909

Scottish Mortgage

Global

01/01/1909

Witan Pacific

Asia Pacific - Including Japan

30/12/1907

Murray International

Global Equity Income

18/12/1907

TR Property

Property Securities

05/05/1905

British Empire

Global

01/01/1898

Aberdeen Diversified Income and Growth

Flexible Investment

05/01/1898

City of London

UK Equity Income

01/01/1891

Merchants

UK Equity Income

16/02/1889

Law Debenture Corporation

Global

12/12/1889

F&C Global Smaller Companies

Global

15/02/1889

Edinburgh Investment

UK Equity Income

01/03/1889

Bankers

Global

13/04/1888

Alliance

Global

21/04/1888

Scottish Investment Trust

Global

27/07/1887

Henderson Smaller Companies

UK Smaller Companies

16/12/1887

JPMorgan Global Growth & Income

Global Equity Income

21/04/1887

Mercantile

UK All Companies

08/12/1884

JPMorgan American

North America

18/06/1881

Scottish American

Global Equity Income

31/12/1873

Dunedin Income Growth

UK Equity Income

01/02/1873

Foreign & Colonial Investment Trust

Global

01/01/1868

Source: AIC

-Ends-

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Notes

  1. *Source: Morningstar. Percentage share price total return in the 25 years to the end of October 2017.
  2. The Association of Investment Companies (AIC) was founded in 1932 to represent the interests of the investment trust industry – the oldest form of collective investment. Today, the AIC represents a broad range of closed-ended investment companies, incorporating investment trusts and other closed-ended investment companies and VCTs. The AIC’s members believe that the industry is best served if it is united and speaks with one voice. The AIC’s mission statement is to help members add value for shareholders over the longer term. The AIC has 349 members and the industry has total assets of approximately £172 billion.
  3. Disclaimer: The information contained in this press release does not constitute investment advice or personal recommendation and it is not an invitation or inducement to engage in investment activity. You should seek independent financial and, if appropriate, legal advice as to the suitability of any investment decision. Past performance is not a guide to future performance. The value of investment company shares, and the income from them, can fall as well as rise. You may not get back the full amount invested and, in some cases, nothing at all.

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Media enquiries

Annabel Brodie-Smith
Communications Director
Tel: 020 7282 5580
annabel.brodie-smith@theaic.co.uk
@annabelbrodies
@aicpress

Laura Thomas
PR & Marketing Executive
Tel: 020 7282 5551
laura.thomas@theaic.co.uk
@aicpress

Elmley de la Cour
PR & Marketing Executive
Tel: 020 7282 5583
elmley.delacour@theaic.co.uk
@aicpress