IPOs
| 2021 | Investment company | AIC sector | New money raised (£m) |
| Feb | Cordiant Digital Infrastructure | Infrastructure | 370 |
| Feb | VH Global Sustainable Energy Opportunities | Renewable Energy Infrastructure | 243 |
| Mar | Digital 9 Infrastructure | Infrastructure | 300 |
| May | Taylor Maritime Investments | Leasing | 113 |
| Jun | Aquila Energy Efficiency | Renewable Energy Infrastructure | 100 |
| Jun | Literacy Capital | Private Equity | 0 |
| Jul | HydrogenOne Capital Growth | Renewable Energy Infrastructure | 107 |
| Jul | Seraphim Space | Growth Capital | 150 |
| Oct | Castelnau Group | Flexible Investment | 52 |
| Oct | Petershill Partners | Growth Capital | 1,023 |
| Nov | Atrato Onsite Energy | Renewable Energy Infrastructure | 150 |
| Nov | Foresight Sustainable Forestry | Farmland & Forestry | 130 |
| Nov | Harmony Energy Income | Renewable Energy Infrastructure | 187 |
| Nov | Life Science REIT | Property – UK Commercial | 350 |
| Nov | Pantheon Infrastructure | Infrastructure | 400 |
| Dec | ThomasLloyd Energy Impact | Renewable Energy Infrastructure | 87 |
Source: AIC (as at 14/12/21). Closed issues admitted to trading only.
Largest amounts raised by existing investment companies (secondary fundraising)
| Investment company | AIC sector | Total 2021 secondary fundraising (£m) |
| Greencoat UK Wind | Renewable Energy Infrastructure | 648 |
| Schiehallion | Growth Capital | 503 |
| Smithson | Global Smaller Companies | 497 |
| Digital 9 Infrastructure | Infrastructure | 450 |
| Renewables Infrastructure Group | Renewable Energy Infrastructure | 440 |
Source: AIC (as at 14/12/21). Closed issues admitted to trading only. Excludes VCTs and shares reissued from treasury.
Sectors raising most in 2021
| AIC sector | Total fundraising in 2021 (£m) |
| Renewable Energy Infrastructure | 3,383 |
| Infrastructure | 2,058 |
| Growth Capital | 1,975 |
| Property – UK Commercial | 928 |
| Flexible Investment | 800 |
Source: AIC (as at 14/12/21). IPOs and secondary fundraising combined. Closed issues admitted to trading only. Excludes VCTs and shares reissued from treasury.
Mergers completed in 2021
In addition to the completed mergers below, the merger of Scottish Investment Trust with JPMorgan Global Growth & Income was approved on 9 December, with the latter being the continuing company.
| 2021 | Merged companies | Continuing company | AIC sector |
| Apr | Invesco Select UK Equity
Invesco Income Growth |
Invesco Select UK Equity | UK Equity Income |
| May | City Merchants High Yield
Invesco Enhanced Income |
Invesco Bond Income Plus | Debt – Loans & Bonds |
| Jul | BH Macro
BH Global |
BH Macro | Hedge Funds |
| Nov | Aberdeen Emerging Markets
Aberdeen New Thai |
abrdn China | China / Greater China |
| Nov | Custodian REIT
Drum Income Plus REIT |
Custodian REIT | Property – UK Commercial |
Source: AIC (as at 14/12/21).
Management group changes
| 2021 | Investment company (current name) | AIC sector | New management group | Previous management group |
| Jan | Alternative Liquidity Fund | Hedge Funds | Rampart Capital | Warana Capital |
| Feb | Keystone Positive Change | UK All Companies | Baillie Gifford | Invesco Asset Management |
| Apr | Brown Advisory US Smaller Companies | North American Smaller Companies | Brown Advisory | Jupiter Unit Trust Managers |
| Oct | Fidelity Emerging Markets | Global Emerging Markets | FIL Investments International | Genesis Investment Management |
| Oct | Gresham House Strategic | UK Smaller Companies | Harwood Capital | Gresham House |
Source: AIC (as at 14/12/21).
