We cater for the needs of every generation, offering investors a unique global equity portfolio that aims to both grow your capital and provide you with rising income.
We offer you the opportunity to invest with ten best-in-class1 global Stock Pickers. Each of them a highly experienced specialist. Individual UK Investors can only access their concentrated stock picks through Alliance Trust.
Each is responsible for selecting and investing in a selection of ‘high-conviction’ equities that they believe is most likely to deliver outperformance over time. They only invest in their very best ideas. Between them, they cover a range of value, growth and quality stock-picking styles.
The diversified portfolio is managed by our Investment Manager, Willis Towers Watson (WTW),2 which balances risk at stock, sector and geographical level. Through WTW, we employ multiple managers, reducing the risk that is often taken by investors selecting a single star manager or one particular style that can move in and out of favour. This approach of using several complementary, high conviction Stock Pickers increases our potential to outperform world markets.3 And reduces the risks and volatility investors often experience from a ‘single manager’ fund. You can read more about this approach in the presentation given by Willis Towers Watson at our 2017 Edinburgh Investor Forum.
We integrate environmental, social and governance (ESG) factors into our investment processes. We firmly believe that, in doing so, we will not only have a positive impact on society, but also outperform portfolios that do not.
Restricting Stock Pickers’ thinking is often counter-productive, so ours are given mandates with as few constraints as possible. They are free to select up to 20 stocks, from wherever in the world they choose.
This approach is complemented by one Stock Picker responsible for an emerging markets mandate containing up to 50 stocks. Together, this creates a unique global equity portfolio – of about 200 listed stocks.
World-class expertise, low cost
You might expect that the cost of accessing high-calibre, global Stock Pickers is high. We are able to draw on Willis Towers Watson’s access, scale and buying powers with the Managers to negotiate highly attractive fee levels.
The cost of accessing our world-class Stock Pickers is targeted to be less than 0.65% pa4, that is the total ongoing charge, making it one of the UK’s most competitively priced multi-manager, global equity Investment Trusts.
1. As rated by Willis Towers Watson.
2. The Alliance Trust Board has appointed Towers Watson Investment Management (Ireland) Limited (TWIMI) as its Alternative Investment Fund Manager (AIFM). TWIM is part of Willis Towers Watson (WTW). On this website we refer to both TWIM as Willis Towers Watson or ‘WTW’.
3. Sebastian & Attaluri. Conviction in Equity Investing, The Journal of Portfolio Management. Summer 2014.
4. The OCR target of 0.65% is based on NAV reported as at 31 December 2017.
At Alliance Trust, our focus is straightforward. We aim to deliver real returns for our investors over the medium to long term, through a combination of capital growth and a rising dividend.
Our stated investment goals are:
By consistently delivering performance and value, we aim to become a core holding for investors of all generations who want to grow the value of their investments over the medium to long term.
Details of our formal investment objective can be found here.
Our investors benefit from having leading global investment firm Willis Towers Watson (WTW)5 manage our portfolio. WTW brings a long history of investment innovation which marries well with our pioneering heritage. WTW already directly manages over $148.6bn6 for institutional investors, advising them on $3.4trn.7 Its clients are some of the largest and most sophisticated investors in the world.
Importantly, WTW also brings a track record of advising and managing similar global equity portfolios which have outperformed over time.8 More on WTW’s management credentials can be found in our October 2019 Investor Forum presentation.
5. The Alliance Trust Board has appointed Towers Watson Investment Management Limited (TWIM) as its Alternative Investment Fund Manager (AIFM). TWIM is part of Willis Towers Watson (WTW). On this website we refer to both TWIM as Willis Towers Watson or ‘WTW’.
6. Willis Towers Watson, as at 30 June 2020.
7. Willis Towers Watson, as at 31 December 2019 (latest data available).
8. Details of the performance of the Towers Watson Global Equity Focus Fund managed by WTW since 17 August 2015 and for the charitable foundation client advised by WTW since 1 July 2009 can be found in the October 2019 investor presentation.
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