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More than meets the eye

Due to the high alpha approach, capital appreciation often gains the headlines, however ATST is also one of the most dependable income sources in the investment trust universe…

 

Alliance Trust (ATST) is one of the largest trusts in the investment companies universe, sitting in the FTSE 250 with gross assets of around £3bn.

 

The management of the fund was changed in April 2017 from an in-house investment team to an externally managed multimanager approach. Willis Towers Watson (WTW) were appointed to oversee it, with the investment committee, led by Craig Baker, selecting the external managers for different parts of the underlying portfolio. WTW gives the managers mandates, with few restrictions, and each has the aim of creating a ‘best ideas’ portfolio of between 10 and 20 stocks from anywhere in the world. Through this approach, the team hope that can generate the levels of alpha associated with concentrated portfolios, without the risk profile of a single portfolio. WTW actively manages the allocations between managers to ensure that performance is primarily driven by stock selection, rather than by sector, style or country weightings.

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Alliance Trust PLC has been investing for generations. We first supported pioneer farmers on the Oregon Trail back in 1888, and since then we’ve successfully navigated world wars, stock market booms (and crashes), and everything in between — while developing a practised eye for high-quality investment potential.

Our storied history has shaped our approach — it’s partly why we don’t rely on short-term trends, but focus on generating meaningful long-term returns. Our unique multi-manager structure is designed to offer built-in resilience and diversification to help investors rise above the noise of an uncertain market, an approach that has allowed us to deliver rising dividends every year for over half a century.

We are a FTSE 250 company, listed on the London Stock Exchange and headquartered in Dundee. Alliance Trust’s aim is to be a core holding for investors seeking increasing value over the long term.

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