Foreign & Colonial Investment Trust is a publicly traded investment trust based in London. Led by Paul Niven, it is listed on the London and New Zealand Stock Exchanges. The company has assets under management of about £3.7bn and holds stakes in more than 500 companies in 35 countries worldwide.
It was founded in 1868 by Philip Rose, who also founded the Royal Brompton Hospital, as The Foreign & Colonial Government Trust - F&C was the first collective investment scheme in the world and specialised in investing in government bonds.
In 1891, it changed its name to The Foreign & Colonial Investment Trust and first started investing in equities in 1925. In 1981, F&C launched Graphite Capital, a leading UK private equity firm. Foreign & Colonial Investment Trust is a subsidiary of F&C Asset Management.
The overhaul of the British Assets trust may have caused an unusual discount narrowing on the £2.6bn Foreign & Colonial trust, according to analysts.
Witan investment trust has become the tenth investment trust to grow its annual dividend for 40 consecutive years, according to the Association of Investment Companies.
Some of the UK's most prominent investment trusts received a performance boost last year from their positions in unquoted companies, one of which went on to launch the largest IPO in history.
F&C’s Niven: ‘Investors are going to have to work harder to find attractive growth’
Jeremy Tigue is to step down from the £2.4bn Foreign & Colonial trust as he prepares to retire at the end of the year.
The average investment trust discount is now close to the lowest it has been for over 30 years. Tim Cockerill, investment director at Rowan Dartington, asks if the trend is down to RDR.
The latter half of 2013 saw some of the most bearish market participants capitulate and confess they were turning more bullish, unable to resist the pull of soaring equity markets.
The £2.2bn Foreign & Colonial investment trust is preparing to halve its UK exposure, as well has slashing gearing to mitigate against a possible 10% fall in equity markets in 2014.