Several Quill clients were successful at the recent Investment Week 25th Investment Company of the Year Awards 2023, in association with the AIC, at an awards ceremony in London.

The awards recognise managers which have delivered consistently for investors across a variety of sectors.

The shortlists for the awards were constructed using scores provided by the AIC, using Morningstar data. Investment companies needed a three-year track record to 30 June 2023 to be shortlisted and a market cap of £50m or above.

Within each sector, companies had their cumulative fair NAV returns calculated over three discrete periods in sterling terms. Returns over the 12 months to 30 June 2023 were given a 40% weighting, the 12 months to 30 June 2022 were given a 30% weighting, while the 12 months to 30 June 2021 accounted for 20% of the overall score. The final 10% weight was given to the full cumulative NAV return over the three years to 30 June 2023.   

These scores were added to give a single score out of 100, the highest of which were considered for the shortlists.  Winners were then chosen by a judging panel comprised of IFAs, wealth managers, fund managers and analysts considering qualitative as well as quantitative factors.   

Odyssean Investment Trust (OIT) won the UK Smaller Companies award.  Alliance Trust (ATST) was the Global award winner and AVI Global Trust (AGT) was highly commended in the Global award category.

Investment Week said: “Against a challenging backdrop, our judges this year were keen to highlight consistent performers who have managed to navigate turbulent market conditions. Discount management was a major focus this year, as well as effective communications with investors and use of the investment company structure.”

Photo: Gregor Stewart, Chairman of Alliance Trust, and Craig Baker, WTW’s Chief Investment Officer, receiving the award