FTSE 250 Component
|Headquarters||Dundee, Scotland, UK|
|Lord Smith (Chairman)|
|Revenue||£60.5 million (2017)|
|£48.5 million (2017)|
Alliance Trust PLC is a publicly traded investment and financial services company, established in 1888 and headquartered in Dundee, Scotland. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. It is one of the largest investment trusts in the UK.
The Alliance Trust PLC was formed by the 1888 merger of three Dundee-based mortgage and land companies: the Dundee Investment Company, the Dundee Mortgage and Trust Investment Company and the Oregon and Washington Trust (which was set up to provide loans to immigrant farmers on the West Coast of the United States). Many prominent figures in Dundee invested some of their money in the Alliance Trust and its predecessors, including merchants, ship owners, textile manufacturers and businessman such as Sir John Leng. The company subsequently expanded into other asset classes. In 1918 the firm agreed to share premises and other costs with the Western & Hawaiian Investment Company, a mortgage lender which initially focused its business on sugar planters in Hawaii before expanding. Five years later it was renamed The Second Alliance Trust, although no formal merger between the two took place until 2006.
The Trusts later moved into fixed income investing in the 1920s and 30s, before adding significant quantities of shares to their portfolios in the late 1950s. A savings division was established by Alliance Trust in 1986, offering pensions and other investment products. A formal merger with The Second Alliance Trust was finally conducted in 2006, as the investment strategies of the two companies had come to closely resemble each other.
In December 2016, the board announced that the Trust would replace its in-house investment team with a multi-manager approach in a bid to improve performance. In January 2017, the Trust appointed Willis Towers Watson (WTW) as investment manager. In September 2017, the Trust appointed Ron Baxter as its new chairman.
Alliance Trust is the parent company of Alliance Trust Savings Limited, an execution-only platform business.
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- "Business Archives". Archives, Records and Artefacts at the University of Dundee. Retrieved 13 October 2013.
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- Brearley, Beth (16 January 2017). "Alliance Trust names Willis Towers Watson investment manager". Fund Strategy. Retrieved 7 June 2017.
- McCulloch, Scott (2017-09-26). "Alliance Trust Savings appoints Ron Baxter as chairman". businessInsider. Retrieved 2017-10-09.
- Documents and clippings about Alliance Trust in the 20th Century Press Archives of the German National Library of Economics (ZBW)