There’s a part of me that appreciates the nostalgic charm of investment trusts that have kept the same names for over 150 years. But there’s another part of me that believes it’s time for a change, for these trusts to modernize and adapt to the times. While my heart leans towards nostalgia and my head towards pragmatism, I value your opinion. Should we hold on to the past or embrace the future?
To get a sense of what people think, I encourage you to visit the website of the Association of Investment Companies (theaic.org.uk) and search for investment trusts with global investment mandates. You’ll come across funds like Martin Currie Global Portfolio and AVI Global, but you’ll also find a string of names that may leave you scratching your head. Monks? Brunner? Bankers? Yes, these are investment trusts designed to make money for shareholders across the world, despite their dated names.
Monks, for example, was launched nearly 100 years ago by the merchant bank JC im Thurn & Sons. Baillie Gifford took over the trust in 1931 but decided to keep the name. Similarly, Brunner was established by the Brunner family in 1927 and Bankers was set up 135 years ago by… you guessed it… bankers. These trusts have impressive track records of dividend growth.
But should they be rebranded to better reflect their purpose? Should they become Baillie Gifford Global Growth, Allianz Global Growth & Income, and Janus Henderson Global Growth & Income? In the US, investment funds are now required to align their portfolios with their names, but this isn’t the case in the UK.
Some UK investment trusts, however, are making moves to modernize. For example, the board of Securities Trust of Scotland recently decided to rebrand as STS Global Income & Growth to better reflect its focus on global investments and a combination of income and growth returns.
Should other trusts follow suit? Should Scottish Mortgage, the largest investment trust in Scotland, be relabeled as Baillie Gifford World Enterprise to highlight its focus on start-up businesses? Should City of London become Janus Henderson UK Equity Income Growth in recognition of its dividend growth emphasis? Or is a trust’s name irrelevant as long as it adheres to its investment objectives and maximizes returns for shareholders?
I look forward to hearing your thoughts. In other news…
I want to give a shoutout to Barry and Mary Ford for their efforts to preserve the world’s oldest post office in Sanquhar, Dumfries and Galloway. Open since 1712 and with only 16 operators in its history, this post office is an important part of the village’s heritage. With the decline of bank branches, post offices are crucial for our high streets.
On a related note, if you have a postmaster who is a local hero, let me know and I’d be happy to visit.
A couple of readers have reached out to me about the new 20mph speed limit introduced by the Welsh government. They are over 70 years old and have seen their car insurance premiums skyrocket recently. They ask whether insurers will take the reduced collision rates into account when calculating premiums. Unfortunately, the answer is no. Insurers are unlikely to lessen the burden caused by rising premiums any time soon.
Finally, some readers have asked if I’ve started a side business in Malta after visiting the capital, Valletta. The business in question is Jeff’s Pastizzeria, which serves traditional Maltese pastries called pastizzi. While I’m flattered by the suggestion, I can assure you that I have not embarked on any money laundering ventures. However, it did remind me of participating in the Malta International Challenge Marathon during a previous visit to the island. After completing the run, I celebrated with a couple of pastizzi and a glass of Girgentina white wine.
Let me know if you’re feeling more confident about your finances following the recent decrease in inflation and the Bank of England’s decision to hold interest rates steady. I certainly hope we can steer clear of recessionary waters and that the Chancellor will consider lifting some of the tax burdens.
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
