Investment trusts AUM tops record high £150bn

The investment company industry’s total assets under management reached a record high of £150.7bn at the end of August, according to figures released today by the Association of Investment Companies (AIC). 

The AIC said that assets had grown significantly across the last three and half years for investment trust style investments as investors look for alternatives to traditional unit trust investments. Having topped the £100bn mark (£100.8bn) at the end of January 2013, the assets had increased by 50% since then, the AIC said in statement today.

Ian Sayers, chief executive at the AIC said: “After a challenging start to the year and uncertainty over the EU referendum, it’s positive news that the industry’s total assets are at a record high, passing £150bn for the first time.

“The growth of alternative assets to just over a third of the industry’s assets is significant. However, the global sector remains the largest investment company sector and our three largest members are from this sector.

Investment companies’ long-term performance record, and their income advantages, make them particularly relevant to investors in the current low interest rate environment,” added Sayers.

Ten largest member investment companies (£m) at 31 August 2016

Investment companySectorTotal assets
Scottish MortgageGlobal4,537
AllianceGlobal3,598
Foreign & Colonial Investment TrustGlobal3,273
Kennedy Wilson Europe Real EstateProperty Direct – Europe3,256
Pershing Square HoldingsHedge Funds3,245
RIT Capital PartnersFlexible Investment2,979
MercantileUK All Companies2,010
HICL InfrastructureSector Specialist: Infrastructure1,952
Electra Private EquityPrivate Equity1,904
WitanGlobal1,891

 

ABOUT THE AUTHOR
Gary Robinson
Deputy Editor, International Investment and Head of Video at Open Door Media Publishing. A fully qualified journalist and filmmaker with more than 20 years' financial services experience, both as journalist and originally as an IFA.

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