AIC figures reveal longevity in closed-ended retail space

Only eight managers in the closed-ended retail space have achieved more than a 20-year tenure, according to new figures from the Association of Investment Companies.

Among them is Gartmore’s Brian O’Neill, who, with 27 years at the helm of the Global trust, is the longest-serving investment company manager. The £129m portfolio has been a top performer over five years, generating a return of 103.6% to 1 June, compared to a Global Growth sector average of 47.9%. The manager says: “One advantage of having a long track record is investors have the opportunity to track your performance over multiple market cycles. “There are some who only perform well in a bull or bear market, which is fine if the investor is aware of this, but we try to perform wel...