With the manager of Capital Gearing approaching his 40th anniversary of managing the company, the Association of Investment Companies (AIC) has released a list of the 27 managers with a track record of at least 20 years.
Peter Spiller (pictured) will have been at the helm of Capital Gearing for a phenomenal 40 years on 5 April 2022. During his four decades as manager, he has seen seven UK prime ministers elected, countless international conflicts and inflation spike above 9% in 1990.
Out of all AIC member investment companies (excluding VCTs) with a history of longer than ten years, 143 (45%) have had at least one of their current fund managers in place for ten years or more.
Annabel Brodie-Smith, Communications Director of the Association of Investment Companies (AIC), said: “In uncertain times and amidst volatile markets, experience counts. It’s reassuring that nearly half of AIC member investment companies have had the same manager in place for ten years, while 27 investment company managers have guided their companies through two turbulent decades.
“The investment company structure, which allows managers to take a long-term view of their portfolios, helps to attract and retain the best people. Quite simply, fund managers love running investment companies, and the longevity of many managers is a sign that they have delivered for shareholders over the long term.”
The second longest-serving manager is Simon Knott, the manager of Rights & Issues for 38 years. Next is James Henderson who has managed Lowland Investment Company for 32 years as well as Law Debenture Corporation for 18 years and Henderson Opportunities for 15 years. Completing the top five are Job Curtis who has headed City of London for 30 years and Katie Potts, the longest-serving female investment company manager, who has been calling the shots at Herald for 28 years.
Below, Peter Spiller and some of the other longest-serving managers share the secrets of their success and lessons they have learned over their tenure. A table of investment company managers with a track record of 20+ years can be found at the bottom of this release.