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Portfolio information

Our objective is to generate a real return for our shareholders over the medium to long term by a combination of capital growth and a rising dividend. We have no fixed asset allocation benchmark although we mainly invest in global equities but can use a range of asset classes throughout the world to achieve our objective. We aim to be a core holding for investors seeking to increase the value of their investments over the long term.

Alliance Trust’s performance target is to consistently outperform the MSCI All Country World Index by 2% p.a. net of costs over rolling three year periods.

Alliance Trust has appointed Willis Towers Watson* to manage its investment portfolio. Willis Towers Watson has appointed and oversees eight specialist equity investment managers.

Each of these manages a portfolio for Alliance Trust based only on their best ideas; each bespoke portfolio contains about 20 stocks (except for the emerging markets portfolio which has around 50 stocks). Together they comprise our equity portfolio. This distinctive approach means that every stock is one in which the equity managers have their highest conviction - investments which they believe are most likely to deliver positive absolute and relative returns.

 

The Equity Managers

In the table below you’ll find details of the eight best-in-class** equity managers who contribute to the overall Alliance Trust portfolio, many of whom are not otherwise accessible to individual investors in the UK.

 

Equity Manager Experience            Equity Manager Experience

Bill Kanko

Black Creek Investment Management

Bill Kanko is founder and President of Black Creek. Bill was the lead manager for the Trimark Fund and Trimark Select Growth Fund, with combined assets of more than $13 billion.

Andrew Wellington

Lyrical Asset Management

Lyrical Asset Management’s investment management team is led by Co‐Founder and Chief Investment Officer, Andrew Wellington and includes Co‐Portfolio Manager, Caroline Ritter.

Pierre Py and Greg Herr

First Pacific Advisors LLC  (FPA)

Pierre Py and Greg Herr are Co‐Portfolio Managers with an average of 20 years investing experience.

Hugh Sergeant

River and Mercantile Asset Management

Hugh Sergeant is the CIO of Equities, having previously held a similar role at Société Générale Asset Management and prior to that at UBS Phillips & Drew and Gartmore.

Rajiv Jain

GQG Partners LLC

Rajiv Jain founded GQG Partners in June 2016, having previously worked at Vontobel Asset Management for 22 years.

George Fraise, Gordon Marchand and Rob Rohn

Sustainable Growth Advisers (SGA)

Sustainable Growth Advisers (SGA) was founded in 2003 by George Fraise, Gordon Marchand and Rob Rohn. They average over 30 years of investment experience.

Ben Whitmore

Jupiter Asset Management Limited

Ben Whitmore has over 20 years of experience and joined Jupiter in 2006. Ben worked at Schroders, managing both retail and institutional portfolios and around £2 billion of assets. Ben will be supported by Dermot Murphy, Assistant Fund Manager.

Andy Headley

Veritas Asset Management

Andy Headley is Head of Global strategies at Veritas Asset Management. Andy has over 20 years investment experience and is supported by Charles Richardson, co‐portfolio manager who has 30 years experience.

 

Performance Target

The equity portfolio aims to outperform the MSCI All Country World Index, by 2% p.a. net of costs over rolling three-year periods.***

Ongoing Charges

Alliance Trust’s costs are targeted to be below 0.65% p.a., making it one of the most competitively priced investment trusts in the UK.***

Details of the ongoing charges at the latest month end are available in our Factsheet.  You can also find further financial information in our Annual Report.

 

 

* the entities with the Willis Towers Watson group responsible for the management of the Alliance Trust investment portfolio are Towers Watson Investment Management (Ireland) Limited (TWIMI) as the AIFM and Towers Watson Investment Management Limited (TWIM) as the investment manager and a delegate of the AIFM. 

**As rated by Willis Towers Watson

***There is no guarantee that the Company will meet its objective or that this target will be met.

Risk Warning - Please note the value of investments and any income from them can go down as well as up. Your capital is at risk and you may not get back what you originally invested.

Alliance Trust PLC is listed on the London Stock Exchange and is registered in Scotland No SC1731. Registered office, 8 West Marketgait, Dundee DD1 1QN. Alliance Trust PLC gives no financial or investment advice.

© Copyright Alliance Trust PLC. Registered office 8 West Marketgait, Dundee DD1 1QN. Tel: 01382 321010.