The awards, which reward excellence in closed-ended fund management, highlight managers who have delivered consistently strong performance for investors and the judges believe can continue to perform well.
Our shortlist for the awards was constructed using scores provided by the AIC, using Morningstar data, looking at NAV returns over the three years to 30 June 2021.
Shortlisted companies were then contacted by Investment Week and asked to submit a questionnaire, which was used in the qualitative judging stage.
Winners were chosen by our judging panel, including some of the UK’s leading researchers and investors in investment companies, and a number of qualitative factors were considered.
The judges also decided the winner of this year’s Best New Issue category, with the award going to Home REIT. The judges said this worthy winner is doing good as well as doing well, as it is contributing to the alleviation of homelessness in the UK.
This year’s Group of the Year Award went to Baillie Gifford, which also enjoyed a number of wins at category level.
Meanwhile, our Rising Star of the Year was Elmley de la Cour from the AIC, who the judges praised for his proactive approach and passion for promoting the benefits of investment companies.
Finally, the judges wanted to honour two individuals with the Jackie Beard Award for Outstanding Contribution to the Industry.
Firstly, the judges wanted to recognise Baillie Gifford’s James Anderson for the success of his fund management career and the major impact he has had on the development of the investment trust sector and raising its profile with investors. They said the Scottish Mortgage trust has been the outstanding success of the past two decades.
The judges also wanted to honour Ian Sayers, former chief executive of the AIC, for his outstanding contribution over two decades. Notable achievements during his tenure included changing company law to allow investment companies to buy back their shares, while industry assets almost tripled from £85bn in 2010 to £237bn.
In particular, the judges highlighted his work in the past 12 months, saying the AIC has had to be particularly active to safeguard the interests of the investment company sector.
UK All Companies
Winner: The Mercantile Investment Trust
Highly commended: Henderson Opportunities Trust
Winner: Law Debenture Corporation
Highly commended: The Diverse Income Trust
UK Smaller Companies
Winner: JPMorgan Smaller Companies Investment Trust
Winner: Pacific Horizon Investment Trust
Winner: BlackRock Greater Europe Investment Trust
Winner: Scottish Mortgage Investment Trust
Winner: The Scottish American Investment Company
Overseas Smaller Companies
Winner: Herald Investment Trust
Winner: JPMorgan Emerging Markets Investment Trust
Winner: Baillie Gifford US Growth Trust
Winner: RIT Capital Partners
Private Equity & Growth Capital
Winner: HgCapital Trust
Winner: VPC Specialty Lending Investments
Winner: Supermarket Income REIT
Biotech and Healthcare
Winner: The Biotech Growth Trust
Commodities and Natural Resources
Winner: Baker Steel Resources Trust
Winner: Allianz Technology Trust
Highly commended: Polar Capital Global Financials Trust
Winner: Ecofin Global Utilities and Infrastructure Trust
Highly commended: BBGI Global Infrastructure S.A.
Renewable energy infrastructure
Winner: The Renewables Infrastructure Group Limited
Winner: Impax Environmental Markets
Winner: Mobeus Income & Growth VCT
Winner: Seneca Growth Capital VCT
VCT AIM Quoted
Winner: Amati AIM VCT
Highly commended: Unicorn AIM VCT
Best New Issue
Winner: Home REIT
Group of the Year
Rising Star of the Year
Elmley de la Cour, AIC
Jackie Beard Award for Outstanding Contribution to the Industry
James Anderson, Baillie Gifford
For more information about the methodology and the awards, visit the event site here.
Business News Governmental News Finance News
Need Your Help Today. Your $1 can change life.