Rachel Beagles takes over as Chairman.
The Association of Investment Companies’ (AIC) membership has elected Elisabeth Scott to the AIC board. Her appointment took effect following the AIC’s Annual General Meeting on 17 January 2018.
In addition to the appointment, Rachel Beagles and William Hemmings have become Chairman and Deputy Chairman respectively. Peter Moffatt has retired from the AIC board following six years of service.
Elisabeth Scott said: “I am honoured to have been elected to the AIC board. Having been involved in the investment company industry for more than 30 years, I am passionate about the advantages investment companies can offer investors. I look forward to working with the AIC to support the membership and to promote investment companies’ benefits further.”
Peter Moffatt said: “It has been a privilege to sit on the AIC board for the past six years, a period in which the investment company industry has made significant steps forward. I would like to thank my colleagues on the board and I wish the AIC and the membership well in continuing their valuable work.”
Rachel Beagles, AIC Chairman, said: “It is a pleasure to welcome Elisabeth Scott to the AIC board. She brings extensive experience of investment companies and the asset management industry as both a non-executive director and a fund manager. I very much look forward to working with Elisabeth.
“After six years of service, Peter Moffatt is retiring from the board and I would very much like to thank Peter for his contribution to the work of the AIC and the industry as a whole.”
Elisabeth Scott is Chairman of India Capital Growth Fund and a non-executive director of Allianz Technology, Dunedin Income Growth, Fidelity China Special Situations and Pacific Horizon. She has over 30 years’ experience in the investment company and asset management industry as both a fund manager and a non-executive director. From 1992 – 2008, Elisabeth worked for Schroders in Hong Kong, culminating in her being appointed Country Head. Previously she was responsible for Schroders’ institutional business in Hong Kong and investing multi-asset portfolios. From 2005 – 2007 Elisabeth was Chairman of the Hong Kong Investment Funds Association, working on behalf of the industry to promote investment products in Hong Kong and China. Elisabeth returned to the UK in 2008 and completed the Sloan Masters in Leadership and Strategy at the London Business School before beginning a non-executive career in 2010.
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- 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 347 members and the industry has total assets of approximately £174 billion.
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