History of the Trust
Alliance Witan is the culmination of over two hundred years’ investing experience. In 2024 two highly respected investment trusts, Alliance Trust and Witan, combined forces. Now, together, we’re helping investors feel confident they have even more experience, scale and opportunity at their side.
Alliance Trust and Witan merge to form Alliance Witan, the UK’s largest ever investment trust merger
Read about it here
2024Andrew Bell retires
2024Witan signs up to the Net Zero Asset Managers initiative
2022Witan becomes a signatory of the Principles for Responsible Investment
2020Alliance Trust sells Alliance Trust Savings Limited to Interactive Investor for £40m to focus on global equities
2019ATI is sold to Liontrust Asset Management PLC and the Trust adopts a new multi-manager investment strategy. WTW is appointed as our investment manager
2017Andrew Bell is appointed CEO
2010Alliance Trust Investments (ATI) is set up
2009Alliance Trust becomes a constituent of the FTSE 100
2008Alliance Trust shifts 20% of the portfolio into cash during the financial crisis to protect shareholders, and reduces exposure to private equity and direct property
2008Net assets exceed £3bn
2007“The longest engagement in corporate history” ends and results in the merger of Alliance Trust and the Second Alliance Trust
2006Witan becomes self-managed and adopt a multi-manager approach
2004Witan sells remaining stake in Henderson
1997Net assets reach £1bn
1993Witan becomes a member of the FTSE 250 on its launch
1992Alliance Trust Savings is established, offering pensions and other investment products
1986Henderson floats on the London Stock Exchange
1983The equity boom collapses. Adverse tax changes and the ravages of inflation limit the Trust’s ability to grow
1970Witan expands their equity investments
1968Witan moves into equity investments and begin to use gearing
1954With careful investment choices and stewardship, the Trust enters the post-war era in a stronger position than many competitors – riding a wave of steady stock performance for 20 years
1945Henderson Administration forms to manage investments, including Witan’s
1934Oil is discovered beneath a plantation Alliance Trust own the mineral rights to. Over the next 25 years, royalty payments from this total more than £2m
1932Witan is listed on the London Stock Exchange, investing in domestic and overseas stocks
1924The Western and Hawaiian Investment Company is renamed The Second Alliance Trust
1923In the US’s challenging post-war years, the Trust withdraws from mortgage lending and diversifies the portfolio to include global investments, stocks and bonds
1920The Trust takes on management of The Western and Hawaiian Investment Company, although they remain separate
1918The company repatriates some funds, reducing investment in the US to about 64% of net assets
1918America remains the focus, with 83% of funds invested in the US
1914Witan is established to manage Lord Faringdon’s investments
1909Alliance Trust’s first chairman John Guild tells the annual general meeting, “put not your trust in riches but put your riches in Trust”
1891The Dundee Mortgage & Trust Investment Co and The Dundee Investment Co merge to form Alliance Trust, lending to immigrant farmers along the Oregon Trail
1888Alexander Gourlay launches The Western and Hawaiian Investment Company to do business in the US and Hawaii
1883