Personal Assets Trust

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Personal Assets Trust (LSEPNL) is a large British investment trust. Established in 1983, the company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The Chairman is Hamish Buchan.

The firm states that it is 'run expressly for private investors'. In view of this, and to aid regular investors investing through investment plans, the firm has a buy back and issue policy in order to maintain the share price close to net asset value.[1]

It states that 'The Directors believe that the profile of a typical investor in the Company is a professionally advised private individual with either a substantial amount of capital or an expectation to build it out of income, who is seeking to protect and increase (in that order) his funds over the long term and to earn as high a total return as is compatible with a risk equivalent to that of the FTSE All-Share Index., and that 'while the Company invests predominantly in the UK, overseas exposure for the Company may range between 50 per cent of total assets and zero.' 'The Company’s equity portfolio is usually concentrated in a short list of stocks and turnover tends to be low. There are no predefined maximum or minimum exposure levels for asset classes but these exposures are reported to, and monitored by, the Board in order to ensure that adequate diversification is achieved. No holding in an individual company will represent more than 15 per cent. by value of the Company’s investments at the time of acquisition.'[1]

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