Shareholder apathy remains a danger, AIC voting figures show
Voting deadlines for Edinburgh Worldwide Investment Trust are imminent.
The Association of Investment Companies (AIC) has called on all shareholders to make their votes count in the upcoming vote at Edinburgh Worldwide Investment Trust, as data shows that trusts with more individual shareholders have lower turnouts than those with higher institutional ownership.
The AIC analysed shareholder voting patterns at the annual general meetings (AGMs) of 245 investment trusts. Where more than a quarter of a trust’s shares were held by self-directed private investors (sometimes called retail investors), the average voting turnout was 35%. But for trusts where private investors held less than a quarter of the shares, the average turnout was 52%.
Average voting turnouts
All investment trusts | Trusts where private investors held <25% of total shares | Trusts where private investors held >25% of total shares | |
|---|---|---|---|
| Average voting turnout at AGM | 43.44% | 52.04% | 35.45% |
Source: AIC (ex VCTs)1
Richard Stone, Chief Executive of the Association of Investment Companies (AIC), said: “These figures underline the danger that the interests of smaller investors will be ignored because they fail to vote their shares. However small your shareholding, you have a voice on important decisions facing your investment trust – such as whether to adopt Saba Capital’s proposals at Edinburgh Worldwide.
“Make sure you use your vote, or be prepared to see the fate of your investment trust decided by larger investors whose interests may or may not align with yours.”
The AIC has published voting deadlines for four major platforms (see below).
A chart displaying AGM voting turnouts by AIC sector can be found below, and reveals that sectors where private investors are more prominent tend to have lower voting turnouts.
AGM voting turnout by AIC sector, showing % of private investor ownership
Source: AIC/Argus Vickers. Alternative asset sectors displayed in red.
Platform voting deadlines for Edinburgh Worldwide Investment Trust
| AJ Bell voting deadline | Fidelity voting deadline | Hargreaves Lansdown voting deadline | interactive investor voting deadline |
|---|---|---|---|
| 15/01/2026 | 14/01/2026 | 14/01/2026 | 15/01/2026 |
- ENDS -
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Notes to editors
- Voting turnout for each investment trust was taken to be the highest % of shares voted on a single resolution at the annual general meeting of the trust. Average turnouts shown in the table are unweighted averages.
- The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs, collectively known as investment companies. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 278 members and the industry has total assets of approximately £266 billion.
- For more information about the AIC and investment trusts, visit the AIC’s website.
- 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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