Citywire is delighted to announce that it will hold its first Investment Trust Awards next month in London.
A total of 18 awards will be up for grabs at an event that will demonstrate the depth and breadth of the investment talent in the £153 billion investment trust sector.
We will have 17 ‘Performance Awards’ to reward the investment trusts and investment companies with the best underlying, risk-adjusted returns against their benchmarks over three years.
And there will be a ‘Best Board Award’ to the board of directors we believe has done the most to protect and improve shareholder returns in their investment trust.
Today (see below) we reveal the 68 investment trusts and investment companies that have been short-listed. The winners will be unveiled at a ceremony on 2 November at the Swan, Shakespeare’s Globe on the bank of the Thames.
Citywire’s philosophy has always been to help investors Make Better Investments with our fund manager data and editorial content. With these awards we aim to highlight those investment trusts doing a good job for investors across the wide range of asset classes that the rapidly growing sector now encompasses.
Thank you to our judges
Before revealing the short-lists, I would like to express my gratitude to our four judges for their time and effort in overseeing the awards process. They are:
Charles Cade, head of investment companies research at Numis Securities.
Genevra Banszky von Ambroz, fund manager, Smith & Williamson.
John Newlands, founder of Newlands Fund Research, former head of investment companies research at Brewin Dolphin.
John Spiers, founder and chief executive of EQ Investors.
The Citywire Investment Trust Performance Awards reward investment trusts and companies whose portfolios are calculated to have added the most value for investors over the past three years.
The awards go to investment trusts and companies with the best Information Ratio based on their three-year net asset value total returns against their benchmark index at 31 July, 2017. Funds that could not be properly benchmarked were excluded.
Note, this ratio does not necessarily reflect the shareholder returns the trusts have generated over three years, but it does highlight the performance of the fund managers who have done a good job with the assets in their care in that time.
It is also worth pointing out that the Information Ratio rewards managers who regularly beat the benchmark by a small amount rather than those who outperform by taking large stock, sector or geographic bets. This approach is similar to the one we use for Citywire Fund Manager Ratings on open-ended investment companies and mutual funds.
However, the Information Ratio was not used in Infrastructure, Private Equity and Specialist Debt. In these categories funds were ranked simply by their three-year NAV total return.
Lastly, a quick word about the Citywire Best Board Award. This goes to the investment trust or investment company board considered to have done the most to protect and promote shareholders’ interests in recent years by ensuring the net asset value performance of their company is as good as it can be and is reflected in its share price.
Awards and Shortlists
We will publish more information about the following short-listed funds in the near future.
The Investment Trust Performance Awards are based on 17 categories covering the main UK and global asset classes and markets. The nominees in each of our categories are:
Global Emerging Markets Equities
UK All Companies
UK Equity Income
UK Smaller Companies
Asia Pacific Equities
Emerging Market Single Country
North America Equities
We have just one nomination and winner in this small sector which will be revealed on the night.
Citywire Best Board
Award for the board that in the opinion of our judges has done the most to improve shareholder returns.
HarbourVest Global Private Equity (HVPE)
Miton Global Opportunities (MIGO)
Schroder Asian Total Return Investment Company (ATR)
Seneca Global Income & Growth (SIGT)
VinaCapital Vietnam Opportunity (VOF)