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