TOP PERFORMING INVESTMENT TRUST SECTORS IN 2024:
In their latest analysis, the AIC has revealed that it’s been growth capital and private equity which has seen most of the action this year, as it published its list of best performing investment trusts in this summary.
Growth Capital is the top performing sector this year, data from the Association of Investment Companies (AIC) has revealed. The sector produced a return of 47% over the 11 months to the end of November 2024, whereas the average investment company returned 13% over the same period.
The Private Equity sector achieved the second highest return of 41%, while the Leasing sector came third with a return of 30%. The fourth best performing sector was Technology & Technology Innovation which returned just under 30% and the Debt – Structured Finance sector came fifth returning 20%.
Annabel Brodie-Smith, Communications Director of the Association of Investment Companies (AIC), said: “Investment trusts have performed well this year with interest rates starting to come down and good progress on cost disclosure rules, although geopolitical headwinds remain. The Trump trade generally boosted performance in November after October’s uncertainty prior to the Budget but concerns about inflation persist.
“Growth Capital, the best performing sector, has bounced back strongly this year, with Seraphim Space’s stratospheric ascent making it the top performing trust, followed by Petershill Partners. Private Equity, last year’s top performing sector, came second this year, boosted by the strong performance of 3i Group. The other top performing investment trusts come from a range of sectors and the majority are trading on double-digit discounts.
“This year’s best performers tell an interesting story but it’s important to remember that investment is about the long term. Building a balanced portfolio of investments which suits your needs, rather than focusing on today’s winners, is most important.”
Ten best performing investment trust sectors in the year to date
| AIC sector | Share price total return % | ||||
| YTD* | 1 year | 3 years | 5 years | 10 years | |
| Growth Capital | 46.95 | 66.24 | -30.92 | -31.78 | N/A |
| Private Equity | 40.71 | 50.88 | 109.35 | 196.73 | 602.61 |
| Leasing | 30.41 | 35.84 | 76.13 | 25.49 | 80.61 |
| Technology & Technology Innovation | 29.82 | 40.39 | 22.04 | 127.76 | N/A |
| Debt – Structured Finance | 20.29 | 26.84 | 29.55 | 49.31 | 97.74 |
| Global | 17.18 | 27.79 | -13.18 | 65.80 | 229.45 |
| India / Indian Subcontinent | 14.42 | 22.92 | 33.99 | 61.81 | 113.64 |
| North America | 13.46 | 28.97 | 27.15 | 143.91 | 181.46 |
| Asia Pacific Equity Income | 13.38 | 18.08 | 10.56 | 25.44 | 93.04 |
| Debt – Loans & Bonds | 13.22 | 15.92 | 23.48 | 34.93 | 47.26 |
Source: theaic.co.uk / Morningstar. N/A means there is no performance history for this period. Ordinary share classes only. Excludes VCTs. * Year to date = 11 months to 30 November 2024
Ten best performing investment trusts in the year to date
| Investment trust | AIC sector | Share price total return % | ||||
| YTD* | 1 year | 3 years | 5 years | 10 years | ||
| Average investment trust | 13.37 | 20.91 | 6.83 | 51.20 | 173.96 | |
| Seraphim Space Investment Trust | Growth Capital | 73.94 | 74.34 | -51.22 | N/A | N/A |
| Petershill Partners | Growth Capital | 70.60 | 102.34 | 11.38 | N/A | N/A |
| 3i Group | Private Equity | 56.16 | 69.38 | 196.41 | 311.78 | 1,095.71 |
| Baillie Gifford US Growth | North America | 50.22 | 66.67 | -19.58 | 96.02 | N/A |
| Amadeo Air Four Plus | Leasing | 49.89 | 50.78 | 278.26 | 22.16 | N/A |
| Tetragon Financial Group | Flexible Investment | 49.36 | 51.82 | 84.58 | 41.91 | 127.89 |
| Baker Steel Resources Trust | Commodities & Natural Resources | 46.84 | 70.59 | -27.27 | 3.11 | 74.44 |
| British & American | Global Equity Income | 38.72 | 45.02 | 9.20 | -3.48 | -24.38 |
| Tufton Assets | Leasing | 35.97 | 38.08 | 12.65 | 72.29 | N/A |
| Manchester & London | Global | 35.66 | 47.82 | 35.47 | 64.77 | 299.70 |
Source: theaic.co.uk / Morningstar. N/A means there is no performance history for this period. Ordinary share classes only. Excludes VCTs and companies undergoing liquidation. Average investment trust excludes VCTs.
* Year to date = 11 months to 30 November 2024
In the 11 months to 30 November, Seraphim Space Investment Trust from the Growth Capital sector was the best performing investment trust with a total return of 74%. Second came Petershill Partners,also from the Growth Capital sector, up 71%. They are followed by 3i Group from the Private Equity sector up 56%, and Baillie Gifford US Growth from the North America sector up 50% over the same period. The Leasing sector has two trusts in the top ten, whilst the Flexible Investment sector, the Commodities & Natural Resources sector, the Global Equity Income sector and the Global sector all have one trust in the top ten.
