How I Joined the Small Investors' Army on a Weekend of Discovery; Personal Finance Editor Jeff Prestridge Travels to Dundee to See How Savers Can Quiz the Bosses of a ?1.7 Billion Fund

By Prestridge, Jeff | The Mail on Sunday (London, England), May 5, 2002 | Go to article overview

How I Joined the Small Investors' Army on a Weekend of Discovery; Personal Finance Editor Jeff Prestridge Travels to Dundee to See How Savers Can Quiz the Bosses of a ?1.7 Billion Fund


Prestridge, Jeff, The Mail on Sunday (London, England)


Byline: JEFF PRESTRIDGE

THE once-thriving jute industry, comic hero Desperate Dan and Captain Scott's ship Discovery mark the history of Dundee.

Discovery, which took Scott to the Antarctic in 1901, was built in the city and is now a tourist attraction.

An 8ft statue of Desperate Dan towers over visitors, reminding them that they are on the doorstep of D. C.

Thomson, publisher of the legendary Beano and Dandy comics.

But visitors dwarfed by the statue might not know that there is another giant in town ? Dundee is also home to the ?1.7 billion Alliance Trust, which has been investing and managing clients' money in world stock markets since 1888.

It was in the quayside Discovery Centre that I joined investors at the trust's annual general meeting.

The AGM in the Robert Falcon Scott Suite attracted more than 100 visitors keen to hear what Alliance Trust had to say.

They represented 50,000 private investors, most of whom save through the trust's savings scheme.

Apart from a free lunch, they also relished the opportunity to quiz the Alliance's board and its fund managers about the trust's performance.

Investment trusts are required by law to hold AGMs.

Though much time is spent on formal business such as reappointing directors and auditors, AGMs give investors the chance to have their say and meet the highly paid experts who look after their money.

AS Annabel Brodie Smith of the Association of Investment Trust Companies says: 'There is nothing more reassuring for an investor than to see the whites of a fund manager's eyes.' Others in the collective investments business do not offer clients this eyeball-to-eyeball opportunity.

For example, unit trusts do not hold annual meetings, though occasionally they may run roadshows where investors can meet fund managers.

Fidelity Investments is a pastmaster at this.

They have to convene meetings only if they wish to change the investment objectives of a fund, and these are usually poorly attended.

In contrast, some big investment trusts go out of their way to encourage investors to attend AGMs. The ?1.6 billion Witan fund last month held its AGM at the Royal Horticultural Society, of Chelsea Flower Show fame, in London, and more than 400 attended.

Fleming American's AGM was held in more modest surroundings ? the company's offices in central London.

But it was a lively affair.

Simon Crinage, vice president in charge of specialist pooled funds at JP Morgan Fleming, says: 'There were a lot of sophisticated investors who wanted answers to key questions such as the outlook for the American economy and the impact of the Enron debacle on corporate America. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

How I Joined the Small Investors' Army on a Weekend of Discovery; Personal Finance Editor Jeff Prestridge Travels to Dundee to See How Savers Can Quiz the Bosses of a ?1.7 Billion Fund
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.