Released: 23 April 2007
Rathbone Investment Management (Rathbones) is delighted to announce that the Albany Investment Trust, to which Rathbones is the appointed investment manager, has been awarded ‘Best UK Growth Trust’ by two of the investment industry’s leading publications: consumer finance title Moneywise and specialist investment trust publication Investment Trusts Magazine.
Established in Liverpool in 1947, the £40.8 million* Albany Investment Trust seeks to provide long-term capital growth from a variety of quality stocks both in the UK and abroad, whilst maintaining steady dividend growth. The Trust is listed in the Equity Growth sector.
The Trust has been a consistent performer within its sector, producing returns over three years of 221.4 per cent, compared with a sector average of 179.3 per cent**.
Rathbones’ director and investment manager of Albany, Andrew Morris, commented: “We are delighted to be the recipient of these two prestigious awards. This industry recognition is a fantastic endorsement of the Trust’s consistent long-term performance and management expertise, characteristics that are also vital in terms of delivering superior returns to our shareholders.”
Moneywise Magazine ranks trusts within their sectors on Net Asset Value performance (gross income reinvested), calculated by TrustNet over one, three and five years to 23 January 2007. Performance over each timeframe is aggregated to produce an overall top 10 in each sector. The trusts are then filtered by the RiskGrade volatility rating to remove the most volatile vehicles. A shortlist of five trusts in each sector is then judged by a panel of experts with the emphasis on performance, manager skill, investment strategy, resources, prospects and pricing. The judges at this year’s Moneywise Awards were Justin Modray of Bestinvest, Tim Cockerill of Rowan Investment Management, Gavin Haynes of Whitechurch Securities and Nigel Walker of Gee & Company.
The Investment Trusts Magazine Best UK Growth Trust award is given to the trust that put up the best performance among the 24 trusts that comprise the UK Growth sector. The award is based on the return to shareholders for the year which for the Albany Investment Trust was 38.7 per cent, more than twice the average of the sector, and more than three times the average performance of the entire investment trust sector in 2006.
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*Figure as at 30 March 2007. Source: RNA on Global Topic Net Asset Value of 407.5p. Company House 10,024,000 shares in issue.
**Investment Trusts Magazine, Summer 2007
For further information, please contact:
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Rathbones: Andrew Morris
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www.rathbones.com 0151 236 6666 |
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Quill Communications: Fiona Harris
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020 7758 2233 |
Notes to editors
Rathbone Brothers Plc specialises in providing, through its subsidiaries, personalised investment management and wealth management services for private clients and trustees, including discretionary asset management, tax planning, trust and company management, and banking services. It manages over £12 billion of funds, including £1.9 billion managed by Rathbone Unit Trust Management Limited (as at 31 December 2006).