Simon Elliott and Will Fraser-Allen elected to AIC board

Gordon Humphries elected AIC Chair.

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At the Association of Investment Companies’ annual general meeting today, the membership has elected Simon Elliott and Will Fraser-Allen to the board of the AIC with immediate effect.

Gordon Humphries has been elected as Chair of the AIC and Sapna Shah has been elected as Deputy Chair of the AIC with immediate effect. In addition, Mickey Morrissey and Sapna Shah have been re-elected to the AIC board.

Elisabeth Scott (outgoing Chair of the AIC) and Patrick Reeve have retired from the AIC board.

Gordon Humphries, Chair of the Association of Investment Companies (AIC), said: “I would like to congratulate and welcome the newly elected board members, Simon Elliott and Will Fraser-Allen on their appointments to the AIC board. Simon’s considerable experience and specialist in-depth understanding of the investment trust industry along with Will’s extensive venture capital trust knowledge will be valuable additions to the AIC and I am sure they will make important contributions to the board.

“I would like to thank Elisabeth Scott and Patrick Reeve, who retired at the AGM. Elisabeth has been an outstanding chair and we very much appreciate her significant contribution to the Association and industry. Patrick has chaired the AIC’s Audit Committee and his VCT knowledge has been invaluable.”

Simon Elliott, Client Director and Head of the Investment Trust Sales team at JPMorgan Asset Management, said: “I am delighted and honoured to have been elected to join the AIC board. I believe the future prospects for investment companies remain bright and the AIC continues to play a crucial role in helping to shape the future of our sector. I look forward to playing my part.”

Will Fraser-Allen, Managing Partner of Albion Capital, said: “I am very pleased to be joining the AIC board. For generations, the flexibility and variety of investment trusts have made them an effective means of diversifying investors’ portfolios. The AIC provides a valuable and broad service to its investment trust and VCT members and I look forward to working with the board and management team to support the AIC’s important public policy work and represent members’ interests going forward.”

Simon Elliott is a Client Director and Head of the Investment Trust Sales team at JPMorgan Asset Management, the second largest investment trust provider by assets in the UK. Simon started his career at PwC (then Coopers & Lybrand) in 1994, and is a qualified chartered accountant. Simon holds an MBA from Cranfield School of Management and was previously Head of Investment Trust Research at Winterflood Securities.

Will Fraser-Allen is Managing Partner of Albion Capital which manages six VCTs: Albion Development VCT, Albion Enterprise VCT, Albion Technology & General VCT, Albion VCT, Crown Place VCT, and Kings Arms Yard VCT. He is a qualified chartered accountant and has over 20 years’ experience investing in unquoted healthcare, leisure, media and technology enabled businesses. Will sits on the venture capital committee of the British Private Equity & Venture Capital Association (BVCA) and the advisory board of the All Party Parliamentary Group (APPG) for Entrepreneurship. He was formerly chair of the Venture Capital Trust Association (VCTA) until December 2023.


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Notes to editors

  1. Photographs of Simon Elliott and Will Fraser-Allen are available on request from the communications team.
  2. The Association of Investment Companies (AIC) represents a broad range of investment trusts and VCTs. The AIC’s vision is for closed-ended investment companies to be understood and considered by every investor. The AIC has 341 members and the industry has total assets of approximately £268 billion.
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