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Smithson Investment Trust is the biggest UK investment company launch ever

17 October 2018

Smithson Investment Trust raises £822.5m.

Smithson Investment Trust has raised £822.5m, placing it top of the list of the biggest UK investment company launches.

Ian Sayers, Chief Executive of the Association of Investment Companies (AIC) said: “It’s a testament to the strength of the investment company structure that Smithson Investment Trust has raised so much money, becoming the largest UK investment company at launch. Clearly, the closed-ended structure allows managers to pursue long-term focussed strategies without having to worry about redemptions.”

 

 

Largest UK investment company launches

Prior to the launch of Smithson Investment Trust, the largest UK investment company launch was Woodford Patient Capital in April 2015 raising £800m. The next largest UK investment company on launch, BioPharma Credit, raised £606m last year.

Year

Month

Company

AIC sector

Total assets (£m)

2018

Oct

Smithson Investment Trust

Global Smaller Companies

822

2015

Apr

Woodford Patient Capital

UK All Companies

800

2017

Mar

BioPharma Credit

Sector Specialist: Debt

606

1994

Mar

Mercury European Privatisation

Europe

549

1994

Feb

Kleinwort European Privatisation

Pan Europe

500

-Ends-

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Notes

  1. 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 351 members and the industry has total assets of approximately £188 billion.
  2. 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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