Vintage years in the investment company sector

With Foreign & Colonial Investment Trust, Britain’s oldest investment company, due to celebrate its 140th Birthday on 19 March, the Association of Investment Companies (AIC) has looked at investment companies celebrating vintage years in the wider sector - and there are a good many of them.

In fact, the 10 oldest investment companies collectively have 1,264 years experience between them.

The AIC has looked at the history of some of these investment companies, and there are a few interesting surprises. In fact there is even a James Bond connection!

The 10 oldest investment companies are: Foreign & Colonial Investment Trust (140 this year), Scottish American Investment Company (SAINTS) (135 this year), Dunedin Income Growth Investment Trust (turned 135 in February), JPMorgan American (turned 127 in January), JPMorgan Fleming Mercantile (124 this year), Scottish Investment Trust, Henderson Smaller Companies Investment Trust and JPMorgan Overseas Investment Trust (each 121 this year), and Alliance Trust and Bankers Investment Trust, which each turn 120 in April this year. For a full list of some of the oldest investment companies, please see page 5.

Some investment companies have celebrated significant birthday’s recently, with Murray International Trust, a Global Growth & Income investment company, and Witan Pacific Investment Trust, an Asia Pacific Including Japan investment company, both turning 100 last December.

Annabel Brodie-Smith, Communications Director, Association of Investment Companies (AIC), said: “The investment company sector continues to evolve. Last year was a record year for new issues in terms of funds raised, whilst the growth of the specialist sectors such as Hedge Funds, Private equity and Property in recent years demonstrates the industry’s ability to adapt to a changing world.

“So it’s worth remembering that the investment company sector has a long and proud history, with many of the oldest investment companies, for example, playing an important role in the American railway boom. Many have survived the great depression and numerous other financial crises along the way, two world wars, the technology boom and bust, and have continued to hold their appeal for a great many private investors, as well as playing a founding role in the formation of the UK’s savings and investment landscape.”