Investing
Revealed: The most consistent top performing investment trusts of the past decade
UK smaller company funds have once again dominated the list of the most consistently top performing investment trusts of the last decade, a study has revealed.
In a repeat of last year’s research by the Association of Investment Companies (AIC), seven of the 20 top performing and most consistent trusts of the last decade were found to be from the UK Smaller Companies sector.
Standard Life UK Smaller Companies, managed by Harry Nimmo for the last ten and a half years, is the most consistently strong performing investment trust of the last decade.
A £100 investment into his fund ten years ago would today be worth £645, according to the AIC.
The figures also suggest a relationship between fund manager longevity and performance. Twelve of the top 20 trusts have been managed by the same manager for a decade or more and 15 out of 20 have had the same manager for at least eight years.
Annabel Brodie-Smith of the AIC said: “Performance is only one of a number of factors to bear in mind when considering investment companies. Investors need to look at other criteria including gearing, charges, valuations and portfolio composition. While it’s always interesting to see who the latest ‘shoot the lights out’ performers are, it’s long-term consistent returns that are key.”
According to the AIC, eight of the top 20 most consistent top performers are on double digit discounts.
Top performing, most consistent investment companies of the last decade
| Company | AIC Sector | Discount /Premium | Manager and length of service | Number of times above sector average on annual returns basis over 10 years | Share price total return on £100 |
| Standard Life UK Smaller Companies | UK Smaller Companies | -0.7 | Harry Nimmo (10.5 years) | 9 | 645.18 |
| Dunedin Smaller Companies | UK Smaller Companies | -6.9 | Ed Beal (8 years) | 9 | 375.76 |
| Lindsell Train | Global | 7.9 | Nick Train (13 years) | 8 | 451.55 |
| Keystone | UK All Companies | -2.2 | Mark Barnett (11 Years) | 8 | 335.35 |
| Law Debenture Corporation | Global | 10.6 | James Henderson (11 years) | 8 | 339.02 |
| Invesco Perpetual UK Smaller Companies | UK Smaller Companies | -10.5 | Jonathan Brown (4 years) | 8 | 420.95 |
| Schroder UK Mid Cap | UK All Companies | -9.4 | Rosemary Banyard and Andy Brough (11 years) | 8 | 492.88 |
| F&C Global Smaller Companies | Global | 0.9 | Peter Ewins (9 years) | 8 | 437.13 |
| Montanaro UK Smaller Companies | UK Smaller Companies | -11.3 | David Lindley (2 years) | 8 | 437.66 |
| JP Morgan Smaller Companies | UK Smaller Companies | -14.9 | Georgina Brittain (16 years) | 8 | 411.14 |
| JP Morgan European Smaller Companies | European Smaller Companies | -10.2 | Jim Campbell (19 years) and Francesco Conte (16 years) | 8 | 499.52 |
| Jupiter European Opportunities | Europe | 2.1 | Alexander Darwall (14 years) | 8 | 481.07 |
| Edinburgh Dragon | Asia Pacific – Excluding Japan | -11.6 | Flavia Cheong (7 years) Chou Chong (4 years), Adrian Lim (7 years), Christopher Wong (4 years) | 7 | 315.09 |
| Lowland | UK Equity Income | 2.1 | James Henderson (24 years) | 7 | 328.71 |
| JP Morgan Mid-Cap | UK All Companies | -10.2 | William Meadon (5 years) & Georgina Brittain (2 years) | 7 | 338.91 |
| BlackRock Smaller Companies | UK Smaller Companies | -6.5 | Mike Prentis (12 years) | 7 | 534.14 |
| Henderson Smaller Companies | UK Smaller Companies | -12.8 | Neil Hermon (12 years) | 7 | 426.96 |
| Aberdeen Asian Smaller Companies | Asia Pacific – Excluding Japan | -5.6 | Flavia Cheong, Chou Chong, Adrian Lim, Christopher Wong (9 years) | 7 | 502.27 |
| Scottish Oriental Smaller Companies | Asia Pacific – Excluding Japan | -4.5 | Angus Tulloch, Martin Lau (1 year) – Angus Tulloch also managed company from launch in 1995 until 2000 | 7 | 493.26 |
| Aberdeen New Thai | Country Specialists: Asia Pacific | -12.8 | Flavia Cheong (18 years), Chou Chong (20 years), Orsen Karnburisudthi (8 years), Adrian Lim (14 years), Adithep Vanabriksha (12 years) | 7 | 423.09 |
Source: AIC using Morningstar
