Interactive Investor

ii Super 60 investments:
F&C Investment Trust

Asset GroupAsset Sub-GroupInvestment Category
EquitiesGlobal equitiesCore

The trust is managed by Paul Niven who joined F&C, later BMO and now Columbia Threadneedle in 1996. Niven fulfils a number of roles. He chairs the investment policy group, has headed the multi-asset-solutions team since 2002, and is head of asset allocation at Columbia Threadneedle following its acquisition of BMO. Niven is supported by the group’s combined multi-asset team, which comprises of around 20 individuals.

The process begins with Niven setting the asset-allocation strategy and the level of gearing to be employed. Niven and the team will then select the managers for each region/style they allocate to. There is a preference for in-house managers to help keep costs down, but where Niven feels the resource is lacking, he will employ external managers. The trust has a dual objective is to grow both capital and income, and on the income front, there have been 50 years of consecutive dividend increases.

The fund has a gearing limit of 20%, the range over the past three years has been 1% - 15%.

Over Niven’s tenure since July 2014 the fund has delivered strong performance when compared to both the benchmark and peers and has benefited from good manager selection.

Opinion
Niven’s background makes him a strong fit for this strategy, with its emphasis on global asset allocation, manager oversight, and allocation to private equity investments..

Niven’s pragmatism combined with a well-executed approach have served investors well over the long term.

December 2022

Risk warnings
Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest. 
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab. 
The information we provide in the ii Super 60 investments list is an opinion provided by ii or one of its partners on whether to buy a specific investment. Please note that none of the opinions we provide are a “personal recommendation”, which means that we have not assessed your investing knowledge and experience, your financial situation or your investment objectives. Therefore you should ensure that any investment decisions you make are suitable for your personal circumstances.
If you are unsure about the suitability of a particular investment or think that you need a personal recommendation, you should speak to a suitably qualified financial advisor. 
Any changes to the ii Super 60 investments list and the rationale behind those decisions will be communicated through the Quarterly Investment Outlook.
Details of all recommendations issued by ii during the previous 12 month period can be found here.
ii adheres to a strict code of conduct. Members of ii staff may hold shares in companies mentioned in the ii Super 60 investments list, which could create a conflict of interest. Any member of staff intending to complete some research about any financial instrument in which they have an interest are required to disclose such interest to ii. We will at all times consider whether such interest impairs the objectivity of the recommendation.
In addition, staff involved in the production of this ii Super 60 list are subject to a personal account dealing restriction. This prevents them from placing a transaction in the specified instrument(s) for five working days before and after an investment is included or amended and made public within the list. This is to avoid personal interests conflicting with the interests of the recipients of this ii Super 60 investments list.