Alliance Trust, based in Dundee, is one of the oldest and largest investment companies. It has a global portfolio and adopts a ‘manager of managers’ approach – an investment adviser, Willis Towers Watson, has selected nine investment managers each of which invests in a high conviction (i.e. concentrated) collection of stocks – their best ideas. Between them, they cover a range of value, growth or quality stock picking styles. The idea is that the approach reduces 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. One of the managers also runs an additional, more diversified, portfolio of companies located in emerging markets.
We have written notes which explain how the trust works
A trust for all seasons – published in November 2020 was our initiation note
The fruits of diversification – published on 4 August 2021 – looks at the trust’s recent strong performance
Stability in troubled waters – published on 17 November 2022 – explores the reasons why the trust is ahead of its peer group
Coming into its own – published on 16 November 2023 – explores what is driving the trust’s relatively good performance
You can access the trust’s website here
You can view our interviews with the company’s Fund Managers below:
16th September 2022: Stuart Gray – Weekly Show
10th September 2021: Craig Baker – Weekly Show