QuotedData on F&C’s 150th birthday
QuotedData on F&C’s 150th birthday, plus our monthly roundup featured in DIY investor magazine.
The granddaddy of the investment trust sector, Foreign & Colonial Investment Trust, is rapidly approaching its 150th birthday. It is a remarkable achievement for a company to remain relevant over such a long period. What, perhaps is even more remarkable is that it is not the only investment trust hitting the 150 mark this year, the other being The Investment Company which will reach this milestone in November. In fact, there are 18 investment trusts that were incorporated before 1900 still thriving today.
At the start of 2018, Foreign & Colonial was the second largest investment company in the UK with a market cap of £3.5bn, behind Scottish Mortgage (£6.3bn and 108 years old) but ahead of RIT Capital Partners (£3.0bn and almost 30 years old).
When I started my career in the City in 1984, Foreign & Colonial was managed by Michael Hart. He was manager of the fund from 1969 to 1997, handing over the reins to Jeremy Tigue who managed the fund for 17 years before handing over to the current manager …