Philadelphia Finance

Jan 31 2018

The Investment Company

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The Investment Company plc

Trust Objective

To provide shareholders with an attractive level of dividends coupled with capital growth over the long term.

Investment Approach

The company will invest in the shares of companies and fixed income securities issued by UK-quoted companies with a wide range of market capitalisations and which are anticipated to pay a growing stream of dividends.

Any use of derivatives for investment purposes will be made on the basis of the same principles of risk spreading and diversification that apply to the Company’s direct investments.

Risks

  • The value of investments can fall as well as rise and investors may not get back the full amount invested.
  • Past distributions of dividends are not a guide to future distributions.
  • The Company may borrow money which can then be used to make further investments (gearing). In a rising market, this ‘gearing’ can magnify the gains or in a falling market, the losses on your investment.
  • The Trust does not use derivatives extensively, although it may use them in an attempt to reduce risk, reduce costs and to generate additional income. Investing in derivatives carries the risk of reduced liquidity, substantial loss and increased volatility in adverse market conditions. Derivatives may expose the Trust to credit risks of counterparties, who may not meet payment obligations. The use of derivatives may result in the fund being leveraged (where economic exposure and thus the potential for loss by the fund exceeds the amount it has invested) and in these market conditions the effect of leverage will magnify losses.

Sir David Thomson Bt. Chairman (aged 75)

Sir David Thomson Bt. was appointed to the Board and elected Chairman in 2005. He is also chairman of S.A. Meacock Company Limited.

S.J. Cockburn

Was appointed to the Board in 1991 and as Managing Director from September 1994, until June 2013 when he became a non- executive Director of The Investment Company and a consultant to Miton in respect of the legacy portfolio of The Investment Company. Until 25 September 2014, he was a non- executive director of Fiske plc and is currently a director of Associated British Engineering plc. He has managed portfolios specialising in preference shares for many years.

P.S. Allen (aged 66)

Was appointed to the Board in 1996. He trained as an investment analyst with Kleinwort Benson. He has managed portfolios specialising in preference shares for many years.

M.H.W Perrin, Audit Committee Chairman (aged 61)

Was appointed to the Board in June 2013. He is a director of Fiske plc and Vipera plc, and is a Chartered Accountant and Chartered Wealth Manager with wide experience of operations and finance in industry.

Investment Team

Gervais Williams

Gervais Williams joined Miton Group plc in 2011. He manages a number of funds and trusts that aggregate to over £1bn. He is also Senior Executive Director at Miton Group plc. His fund management career extends over 30 years including 17 years at Gartmore Group Ltd, where he was head of UK Small Companies investing in UK smaller companies and Irish equities. Gervais is a member of the AIM Advisory Council, chairman of the Quoted Companies Alliance and a board member of The Investment Association. He is also on the EU Taskforce reviewing why the number of smaller IPOs has declined over recent decades. Gervais Williams published his first book ‘Slow Finance’ in the autumn of 2011, and his second book ‘The Future is Small’ was published in November 2014. His most recent book ‘The Retreat of Globalisation’ was published in December 2016.

Gervais is Fund Manager of the CF Miton UK Multi Cap Income Fund, CF Miton UK Smaller Companies Fund, Miton Income Fund, Diverse Income Trust plc, The Investment Company plc and Miton UK MicroCap Trust plc. He was awarded Fund Manager of the Year 2014 by What Investment.

Martin Turner

Martin Turner joined Miton Group plc in May 2011. Martin’s career in the City began in 1995 where he qualified as a Chartered Accountant with Arthur Andersen. He moved to Rothschild and in time on to Head of Pan European Mid and Small Caps Sales at Merrill Lynch. Following this, Martin was Head of Sales at Teathers/Landsbanki before taking the Head of Small/Mid Cap Equities role covering research, sales and trading at Collins Stewart. Martin graduated from Warwick University with a degree in Accounting and Financial Analysis.

Martin is Fund Manager of the CF Miton UK Multi Cap Income Fund, CF Miton UK Smaller Companies Fund, the Diverse Income Trust plc, The Investment Company plc and Miton UK MicroCap Trust plc.

Past performance is not a guide to future returns.


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