Trust Capital history

Alliance Trust, launched in 1888, was originally founded as a mortgage bank, raising capital from British investors and lending it to pioneer farmers in the north western United States.

James Budden, director of retail marketing and distribution at Baillie Gifford, points out: “Baillie Gifford’s founders launched the Scottish Mortgage Investment Trust in 1909.

Majedie Investments, set up in 1910, these days a global fund of funds, traces its origins back to rubber plantations in the Far East, as does Scottish Mortgage.

By the outbreak of the First World War in 1914, 90 investment trusts had been established.

The Edge Act was blamed for allowing the multiple leverage common to American investment trust structures of the 1920s.

68 Smith, E. L., Common Stocks as Long-Term Investments (New York, 1924)Google Scholar.

41 J. Moody in the Preface to Fowler, J. F., American Investment Trusts (New York, 1928)Google Scholar.

103 Leibson, I. B., Investment Trusts – How and Why (Boston, 1930)Google Scholar.

D'ici 1944, les fonds ouverts avaient rattrapé les sociétés d'investissement en termes de taille de capitaux, un phénomène qui ne s'est pas produit en Grande Bretagne pendant encore 30 années.

See Burton and Corner, Investment and Unit Trusts. It was not until the Companies Act 1948 that investment trusts were required to disclose net asset value, and even then it was only in a footnote to the balance sheet.

34 Dowrie, G. W. and Fuller, D. R., Investments, 2nd edition (New York, 1950), chapter 16Google Scholar.

35 Bullock, H., The Story of Investment Companies (New York, 1959)Google Scholar.

Capital Trust was incorporated in the year 1996.

In 1999, four-fifths of the total capital retained by investment trusts was invested in quoted equities, with the remaining one-fifth left to private companies, property or debt.

The company ventured into active financing in 2008.

5 The Telegraph, How investment funds survived the First World War, August 2014

Investment Trusts December 23 2021