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AIC sectors

Below is a list of the AIC sectors and their definitions, including VCT sectors
AIC investment company sectors Global Growth Companies whose objective is to produce a total return to shareholders from capital growth and some dividend income. They will have less than 80% of their assets in any one geographical area. Global Growth & Income Companies whose objective is to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio ranging between a 100% and a 175% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area. Global High Income Companies which invest in equities and fixed interest securities, whose objective is to provide dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area. Global Smaller Companies Companies which invest at least 80% of their assets in smaller company securities. They will have less than 80% of their assets in any one geographical area. UK Growth Companies which invest in UK securities and aim produce a total return to shareholders from capital growth and some dividend income. They will have at least 80% of their assets in UK securities. UK Growth & Income Companies which invest in UK securities and aim to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio between 100% and 175% of that of the FTSE All-Share Index. They will have at least 80% of their assets in UK securities. UK Smaller Companies Companies which invest at least 80% of their assets in UK smaller company securities. UK High Income Companies which invest at least 80% of their assets in UK equities and fixed interest securities in the UK, whose objective is to produce dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-Share Index. North America Companies which have at least 80% of their assets in North American securities. North American Smaller Companies Companies which have at least 80% of their assets invested in North American smaller company securities. Asia Pacific - Including Japan Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of over 20%. Asia Pacific - Excluding Japan Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of less than 20%. Japan Companies which have at least 80% of their assets in Japanese securities. Japanese Smaller Companies Companies which have at least 80% of their assets invested in Japanese smaller company securities. Europe Companies which have at least 80% of their assets in European securities. European Smaller Companies Companies which have at least 80% of their assets invested in European smaller company securities. European Emerging Markets Companies which have at least 80% of their assets in European emerging market securities. Global Emerging Markets Companies which have at least 80% of their assets in global emerging market securities. Latin America Companies which have least 80% of their assets in Latin American securities. Hedge Funds Companies whose policy is to invest in a portfolio of Hedge Funds and/or employ a range of direct hedging investment strategies. Private Equity Companies which have a significant portion of the company’s portfolio invested in the securities of unquoted companies. Country Specialists Companies whose policy is to invest in one or two countries. Companies are classified into Europe Asia Pacific and Other sectors.
*Property sectors* Property Securities Companies whose policy is to principally invest in property securities. Property Direct - UK Companies whose policy is to invest in property in the UK Property Direct - Europe Companies whose policy is to invest in property in Europe. Property Direct - Asia Pacific Companies whose policy is to invest in property in Asia Pacific. Property Specialist Companies whose policy is to invest in a specialist sector of the property market.
*Sector Specialist sectors* Biotechnology & Healthcare Companies whose policy is to invest in biotechnology and/or healthcare securities. Canadian Income Trusts Companies whose policy is to invest in Canadian income trusts. Commodities & Natural Resources Companies whose policy is to invest in a commodities and natural resource securities. Debt Companies whose policy is to invest in debt instruments. Endowment Policies Companies whose policy is to invest in with-profits endowment policies or life assurance policies. Environmental Companies whose policy is to invest in environmental and alternative energy securities. Financials Companies whose policy is to invest in the financial services securities. Forestry & Timber Companies whose policy is to invest in forestry and timber related investments and securities. Infrastructure Companies whose policy is to invest in infrastructure investments. Liquidity Funds Companies whose policy is to invest in funds. Litigation Companies whose policy is to invest in litigation and arbitration cases, claims and disputes. Small Media, Communication & IT Companies Companies whose policy is to invest in small media, communication & IT company securities. Technology, Media, Telecommunications Companies whose policy is to invest in technology, media, telecommunication securities. Utilities Companies whose policy is to invest in utility and utility related securities.
*VCT sectors* Venture Capital Trusts (VCT) VCTs are a form of closed-ended fund that were introduced by the 1995 Finance Act to help provide finance for small UK businesses to develop. By adhering to the VCTs rules of investing in unquoted and AIM/OFEX listed companies VCTs are able to offer tax benefits to investors. Pre-qualifying VCTs are those that are not required to hold 70% in qualifying investments. A VCT must hold at least 70% by value of its investments in qualifying holdings by the end of the company’s accounting period beginning no more than 3 years after launch. VCT Generalist Companies whose policy is to invest in a range of qualifying investments in different sectors. VCT AIM Quoted Companies whose policy is to invest in a range of qualifying companies listed, or about to be listed, on AIM or on any other exchange where the securities are treated as unquoted. *VCT Spe*cialists sectors Environmental Companies whose policy is to invest in environmental and alternative energy companies. Healthcare & Biotechnology Companies whose policy is to invest in healthcare and biotechnology companies. Media, Leisure & Events Companies whose policy is to invest in media, leisure and events companies. Technology Companies whose policy is to invest in technology companies.

Below is a list of the AIC sectors and their definitions, including VCT sectors

AIC investment company sectors

Global Growth
Companies whose objective is to produce a total return to shareholders from capital growth and some dividend income. They will have less than 80% of their assets in any one geographical area.

Global Growth & Income
Companies whose objective is to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio ranging between a 100% and a 175% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area.

Global High Income
Companies which invest in equities and fixed interest securities, whose objective is to provide dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-World Index. They will have less than 80% of their assets in any one geographical area.

Global Smaller Companies
Companies which invest at least 80% of their assets in smaller company securities. They will have less than 80% of their assets in any one geographical area.

UK Growth
Companies which invest in UK securities and aim produce a total return to shareholders from capital growth and some dividend income. They will have at least 80% of their assets in UK securities.

UK Growth & Income
Companies which invest in UK securities and aim to produce a total return to shareholders from capital and dividend growth and which typically have a yield on the underlying portfolio between 100% and 175% of that of the FTSE All-Share Index. They will have at least 80% of their assets in UK securities.

UK Smaller Companies
Companies which invest at least 80% of their assets in UK smaller company securities.

UK High Income
Companies which invest at least 80% of their assets in UK equities and fixed interest securities in the UK, whose objective is to produce dividend growth to shareholders. They will typically have a yield on the underlying portfolio above 150% of that of the FTSE All-Share Index.

North America
Companies which have at least 80% of their assets in North American securities.

North American Smaller Companies
Companies which have at least 80% of their assets invested in North American smaller company securities.

Asia Pacific - Including Japan
Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of over 20%.

Asia Pacific - Excluding Japan
Companies which have at least 80% of their assets in Asia Pacific securities, which includes a Japanese content of less than 20%.

Japan
Companies which have at least 80% of their assets in Japanese securities.

Japanese Smaller Companies
Companies which have at least 80% of their assets invested in Japanese smaller company securities.

Europe
Companies which have at least 80% of their assets in European securities.

European Smaller Companies
Companies which have at least 80% of their assets invested in European smaller company securities.

European Emerging Markets
Companies which have at least 80% of their assets in European emerging market securities.

Global Emerging Markets
Companies which have at least 80% of their assets in global emerging market securities.

Latin America
Companies which have least 80% of their assets in Latin American securities.

Hedge Funds
Companies whose policy is to invest in a portfolio of Hedge Funds and/or employ a range of direct hedging investment strategies.

Private Equity
Companies which have a significant portion of the company’s portfolio invested in the securities of unquoted companies.

Country Specialists
Companies whose policy is to invest in one or two countries. Companies are classified into Europe Asia Pacific and Other sectors.

Property sectors

Property Securities
Companies whose policy is to principally invest in property securities.

Property Direct - UK
Companies whose policy is to invest in property in the UK

Property Direct - Europe
Companies whose policy is to invest in property in Europe.

Property Direct - Asia Pacific
Companies whose policy is to invest in property in Asia Pacific.

Property Specialist
Companies whose policy is to invest in a specialist sector of the property market.

Sector Specialist sectors

Biotechnology & Healthcare
Companies whose policy is to invest in biotechnology and/or healthcare securities.

Canadian Income Trusts
Companies whose policy is to invest in Canadian income trusts.

Commodities & Natural Resources
Companies whose policy is to invest in a commodities and natural resource securities.

Debt
Companies whose policy is to invest in debt instruments.

Endowment Policies
Companies whose policy is to invest in with-profits endowment policies or life assurance policies.

Environmental
Companies whose policy is to invest in environmental and alternative energy securities.

Financials
Companies whose policy is to invest in the financial services securities.

Forestry & Timber
Companies whose policy is to invest in forestry and timber related investments and securities.

Infrastructure
Companies whose policy is to invest in infrastructure investments.

Liquidity Funds
Companies whose policy is to invest in funds.

Litigation
Companies whose policy is to invest in litigation and arbitration cases, claims and disputes.

Small Media, Communication & IT Companies
Companies whose policy is to invest in small media, communication & IT company securities.

Technology, Media, Telecommunications Companies whose policy is to invest in technology, media, telecommunication securities.

Utilities
Companies whose policy is to invest in utility and utility related securities.

VCT sectors

Venture Capital Trusts (VCT) VCTs are a form of closed-ended fund that were introduced by the 1995 Finance Act to help provide finance for small UK businesses to develop. By adhering to the VCTs rules of investing in unquoted and AIM/OFEX listed companies VCTs are able to offer tax benefits to investors. Pre-qualifying VCTs are those that are not required to hold 70% in qualifying investments. A VCT must hold at least 70% by value of its investments in qualifying holdings by the end of the company’s accounting period beginning no more than 3 years after launch.

VCT Generalist
Companies whose policy is to invest in a range of qualifying investments in different sectors.

VCT AIM Quoted
Companies whose policy is to invest in a range of qualifying companies listed, or about to be listed, on AIM or on any other exchange where the securities are treated as unquoted.

VCT Specialists sectors

Environmental
Companies whose policy is to invest in environmental and alternative energy companies.

Healthcare & Biotechnology
Companies whose policy is to invest in healthcare and biotechnology companies.

Media, Leisure & Events
Companies whose policy is to invest in media, leisure and events companies.

Technology
Companies whose policy is to invest in technology companies.

Alternative Investment Market (AIM)

The London Stock Exchange's international market for young and growing companies.

Annual General Meeting (AGM)

An annual meeting called by directors of a company that allow shareholders to stay informed and involved with company decisions and workings.

Assets

Anything owned or controlled that has value, but usually, for investment company, it refers to equities, bonds and cash. The underlying assets of an investment company will vary depending on the company's objective.

Average distribution yield

Published for VCTs - The 3 year average distribution yield published on this site shows the annual dividend distributions (income and capital) as a % of the average annual price over the previous 3 financial years. See Distribution yield.