Who are we?

The Association of Investment Companies (AIC) was founded in 1932 to represent investment trusts – the oldest form of collective investment. Today, the AIC represents a broad range of investment companies, investment trusts, VCTs and other closed-ended funds.


For closed-ended investment companies to be understood and considered by every investor.


To support and promote the long-term benefits of investment companies by engaging with members, investors, and the wider financial community.


  • We support members through our regulatory and lobbying work. We provide substantial information and resources particularly for member company directors. We also seek to provide guidance and examples of best practice on key topics.
  • We support investors, whether self-directed or advisers/wealth managers, helping them make informed decisions when using closed-ended investment companies as part of an actively managed diversified portfolio of assets through the provision of information, research and ‘best in class’ tools.
  • We support the wider financial community, fostering their interest in investment companies through our lobbying work, working groups, information sharing and website resources. We work with policymakers, regulators, other industry participants and trade bodies to help their understanding of our members and the benefits they deliver for the economy and investors.


  • We promote members to investors through our communications work, our website, our training activities, and any other appropriate means.
  • We promote the broader virtues of closed-ended investment companies to investors, actual and potential, and the benefits of including them in a diversified portfolio. Regardless of the level of prior knowledge, the tools and information on our website enable investors of all levels of experience to learn more about our sector, our members and ultimately to undertake extensive research.
  • In all our support work and engagement activity we proactively seek opportunities to promote to the wider financial community the benefits of the closed-ended investment company structure, its access to a wide range of asset classes and its potential for superior returns.


  • We engage with members through events, both physical and virtual. We produce regular newsletter and other communications, provide training alongside a wide range of material designed to assist member directors, and we maintain a wealth of information on our members website. Our activity is also designed to enable members to engage with each other, benefiting from others’ experiences.
  • We engage with investors both potential and actual through our website, newsletters and communications work. We hold events for investors designed to enable members to connect directly with those investors. We engage with the platforms and advisors through whom many investors manage their activity, including providing information and training to financial advisers.
  • We engage with the wider financial community through active participation in industry groups, through our working groups particularly for key market participants such as management groups and brokers, and through our broader communication and lobbying work.

“Investment companies have been serving investors for over 150 years. Their permanent capital structure enables active managers to deliver growth and income across a wide range of geographies and asset classes – from listed shares to property and infrastructure, from green energy to biotech – while their stock market listing makes them accessible to everyone.”

Richard Stone, Chief Executive of the AIC

Richard Stone headshot

Our sector

Get a bird's eye view of investment companies today and how they've changed over the years.

Our members

View all AIC member companies and quickly access their annual reports or websites.

Our team

Meet the AIC board and the whole team.