Page 40 - DIY Investor Magazine | Issue 32

LONG-TERM RETURNS OF THE OLDEST TRUSTS
A useful piece of research has just popped into my inbox courtesy of the AIC.
It looks at the long-term performance — the last 10, 20, and 30 years to 31 January 2022 — of the oldest investment trusts.
It’s in honour of the Queen’s Platinum Jubilee and highlights the 35 investment companies that have 70 years or more of history.
So it starts with F&C, launched back in 1868, and runs through to the young whippet that is Henderson Euro Focus that merely dates back to 1947. I thought it was worth highlighting so I’ve rejigged the numbers to show annualised returns rather than total returns as I find these easier to comprehend and for comparison purposes. I have also added a rank column to show the return position over 30 years more clearly; the figures assume all dividends are reinvested.
Launch Rank
1909 1 1905 2 1930 3
1906 4 1947 5
1889 6 1881 7
1884 8
1889 9
1926 10
1889 11
1929 12 1912 13
1887 14
1888 15
1868 16
1930 17
1868 18 1926 19
1907 20
Company
Scottish Mortgage
TR Property
Canadian General Investments
BlackRock Smaller
Henderson European Focus
AVI Global
JPMorgan American
Mercantile
BMO Global Smaller
Finsbury G&I
Law Debenture
Monks
Hansa (A share)
JPMorgan Global G&I
Bankers
Investment Company
Henderson Far East Income
F&C Temple Bar
Murray International
Sector
Global
Property Securities
North America
UK Smaller Companies
Europe
Global
North America
UK All Companies
Global Smaller Companies
UK Equity Income
UK Equity Income
Global
Flexible Investment
Global Equity Income
Global
Flexible Investment
Asia Pacific Equity Income
Global
UK Equity Income
Global Equity Income
Last 10 years
24.60% 16.10% 13.60%
16.90% 14.10%
11.20% 16.60%
13.20%
12.20%
12.30%
12.80%
14.40% 3.60%
14.70%
14.10% 8.00%
6.40%
13.60% 7.20%
6.80%
Last 20 years
16.40% 14.60% 12.30%
14.60% 10.30%
10.80% 9.50%
11.00%
12.30%
11.30%
10.10%
10.30% 7.90%
10.20%
9.80% 4.60%
10.00%
9.20% 7.80%
10.00%
Last 30 years
14.70% 14.00% 13.70%
12.60% 12.30%
12.20% 11.60%
11.50%
11.30%
11.20%
11.10%
11.00% 10.80%
10.70%
10.60% 10.40%
10.00%
10.00% 9.90%
9.70%
DIY Investor Magazine · Feb 2022 40