An excited crowd of fund managers, directors, journalists and PR folk assembled at the Guardian Royal Exchange in the City of London last week for QuotedData’s second annual investment companies awards.

Corks popped and champagne flowed as the winners of our 14 awards were announced.  

Everyone likes to be told they’re the best. What makes QuotedData’s Investors’ Choice Awards extra special is that the winners in 12 of our categories are voted on by investors.

Our thanks to the five judges who analysed the performance data and picked the shortlists of investment companies and fund groups on which readers of this website cast their votes. They also picked the winners of our Best Board and Person of the Year awards, all of which we reveal below.

We are especially grateful to Charles Armstrong (pictured below), portfolio director at Cazenove Capital, who joined the judges panel and helped QuotedData’s James Carthew present the awards.

Our other judges were:

• James de Bunsen, a portfolio manager at Janus Henderson, who specialises in alternative assets within multi-asset investment strategies;
• James Burns, partner at Evelyn Partners, who leads its managed portfolio service and multi-asset investment team;
• Ben Conway, chief investment officer at Hawksmoor Investment Management;
• Faith Glasgow, freelance finance journalist and a former editor of Money Observer magazine.

JP Morgan triumphs with three awards!

Faaliha Jivraj (left) and Carolyn Morgan (right) of JP Morgan Asset Management’s investment trust team were very busy as they accepted no less than three of our awards.

First, JPMorgan American (JAM) came top in the Capital Growth category on account of the strong returns that have propelled the £1.9bn investment trust ahead of the US stock market in the past five years.

That’s impressive given that US equity returns have been largely concentrated in a few mega-cap tech stocks. Voters put it ahead of Rockwood Strategic (RKW), Vietnam Holding (VNH) and Ashoka India Equity (AIE) which were also shortlisted for outperforming in their markets.

Jivraj, an investment trust sales analyst, and Morgan, a relationship manager, gathered more applause as JPMorgan Global Growth & Income (JGGI) was crowned our Global winner.

The £3.2bn investment trust was praised for combining outperformance of global equities with an enhanced dividend that our judges said made good use of the investment company structure.

Investors rated JGGI above shortlisted rivals AVI Global (AGT), Murray International (MYI) and Alliance Witan (ALW).

The pair were called upon one last time as JP Morgan also won Best Large Asset Manager, with the judges highlighting the group’s scale, innovation and leadership across multiple investment classes.

Best for Income

Law Debenture (LWDB), a unique £1.4bn investment trust combining a portfolio of listed, mostly UK income stocks alongside a group of professional financial services businesses, saw off intense competition from City of London (CTY), TwentyFour Select Monthly Income (SMIF) and CQS New City High Yield (NCYF) to win in our Income category.

Co-manager James Henderson of Janus Henderson (left) and chief operating officer Trish Houston (middle) collected the award from Armstrong. Houston was “absolutely thrilled” to hear Carthew say the judges had highlighted the fund’s progressive dividend and doubling in net asset value over the past five years (with dividends reinvested).

Best for Small-Cap

Rockwood Strategic (RKW) may have been pipped at the post in Capital Growth but fund manager Richard Staveley (left) was smiling as he rocked up to receive the Small-Cap award. He was “delighted” at the recognition the £138m UK smaller companies investment trust was receiving after a successful year that the judges said further solidified its leading long-term track record.

The voting public rated it above European Smaller Companies Trust (ESCT), Scottish Oriental Smaller Companies (SST) and Nippon Active Value (NAVF) which were also shortlisted.

Best for UK

Capping five years of successful management under Redwheel’s Nicholas Purves and Ian Lance, Temple Bar (TMPL) took the coveted UK prize with the judges impressed by the £1bn investment trust’s strong value-led strategy and consistent income generation.

Temple Bar chair Richard Wyatt (right) received the award, which investors voted ahead of rivals Rockwood Strategic, Fidelity Special Values (FSV) and Edinburgh (EDIN).

Best Country Specialist

Nippon Active Value Fund (NAVF) impressed judges and investors alike with its activist approach to Japan’s smaller companies. Under Rising Sun Management, its performance has not only shown the potential of Japanese small-cap stocks but also the value a skilled investor can generate by targeting companies ripe for governance reform.

Rosemary Morgan (left), chair since the £405m investment trust’s launch five years ago, was presented the award by Armstrong. Ashoka India Equity (AIE), JPMorgan American and BlackRock Frontiers (BRFI) were also shortlisted.

Best Sector Specialist

Announcing Polar Capital Global Financials Trust (PCFT) as the winner in Sector Specialist, QuotedData’s Carthew said the UK’s only pure-play listed financials fund had delivered a steady and consistent growth record over the near and long term. He said its proposition had been made more attractive thanks to lowered fees and “judicious” control of the share price discount.

Investors were impressed too, voting it ahead of CVC Income & Growth (CVCG), CQS New City High Yield (NCYF) and BH Macro (BHMG).

Simon Cordery (left), chair of the £343m investment trust, was present to hear the good news.

Best Alternative Assets for Income

Alternative assets has been a difficult area for many investment companies in the past three years, but 3i Infrastructure (3IN) has shone above much of the opposition, delivering steady income and good total returns through essential infrastructure investments.

Jonathan Doberman (left), director of infrastructure finance at 3i Group, picked up the award which TwentyFour Income Fund (TFIF), Greencoat UK Wind (UKW) and BioPharma Credit (BCPR) had also vied for.

Best Alternative Assets for Growth

Private equity fund Oakley Capital Investments (OCI) was voted ahead of three impressive sector rivals: HgCapital Trust (HGT), CT Private Equity (CTPE) and ICG Enterprise (ICGT). QuotedData’s Carthew said it stood out with its focus on technology, digital consumer, education, and business services.

Priyesh Parmar (left) and Matt Goss (middle) of Deutsche Numis, corporate broker to OCI, collected the award on behalf of the company.

Best for Property

With its portfolio of small UK commercial properties and intact dividend, AEW UK REIT (AEWU) has been one of the listed real estate sector’s standout performers over one and five years and is one of the few to trade close to asset value.

From left to right, real estate fund controller George Elliot, assistant portfolio manager Henry Butt and portfolio manager Laura Elkin relished hearing AEWU had been picked over Tritax Big Box (BBOX), Target Healthcare (THRL) and TR Property (TRY).

Best Board

Having unveiled the winners of our 10 sector awards, we move on to Best Board, a key category for UK-listed investment companies where governance is a key attribute as well as an area of some concern.

Steep share price discounts have plagued investors in listed alternative assets funds of late, so our judges wanted to reward an investment company whose board had taken steps to protect shareholders.

Greencoat UK Wind (UKW), a £2.3bn renewables fund, was selected by our judges for being the first in its sector last December to move its fees to the lower of market value or net asset value. This aligns the fund managers with investors. Put simply, they earn less money when the shares trade below NAV, as they currently do on a 25% discount.

It has also actively bought back its cheap shares, a move that lifts NAV, repurchasing £80m last year and committing to a further £100m in buybacks in 2025.

John Musk (left), head of listed investor relations at Schroder Greencoat, collected the award on behalf of the UKW board chaired by Lucinda Riches.

Best Boutique Asset Manager

Fund manager Polar Capital (POLR) runs £26.7bn of investor assets, £6.3bn in three investment trusts, Polar Capital Technology (PCT), Polar Capital Financials (PCFT) and Polar Capital Global Healthcare (PCGH). The judges praised the company for its specialist approach and expertise, with investors voting it ahead of Asset Value Investors, Harwood Capital and Whiteoak.

Chief marketing officer Vik Heerah (left) said: “We’re grateful for the support and recognition from the retail community.”

Person of the Year

The retirement this month of investment trust picker Peter Hewitt (above right) as fund manager of the CT Global Managed Portfolios (CMPG, CMPI), which he had run since launch in 2008, made him the perfect candidate for Person of the Year. His 35-year investment career has seen him invest in US and UK equities at Ivory & Sime, Murray Johnstone and BMO Asset Management before Columbia Threadneedle.

Announcing the award, QuotedData’s James Carthew said: “Peter Hewitt’s selection reflects an acknowledgment of his importance to the trust sector, having not only been one of the highest profile trust investors, but he has also been one of the loudest champions for the sector with his frequent press appearances and ever positive commentary on the potential of listed closed-end funds. We wish him all the best in his retirement.”

Hewitt isn’t disappearing from the scene, however, as he was appointed to the board of the Association of Investment Companies (AIC) in January and serves as non-executive director at Odyssean (OIT), the £218m UK smaller companies trust within the Harwood Capital stable.

QuotedData chief executive Edward Marten (left) presented Hewitt with his award.

That’s it! If you want more, watch the short video of the awards below. This features private investor Geoff Mills, who won a £5,000 prize to invest in an ISA after correctly predicting the winners from the judges’ shortlists.