The AIC has removed index comparisons - what are they trying to hide?


#1

I use the AIC website for performance data but recently they’re removed the index comparison for individual trusts, which, for some, flatter their performance because it’s now only compared with the performance of fellow investment trusts.

You’ve got to wonder why they’ve done this? I used to admire the AIC because although they are the industry trade body, they did a lot to inform investors like me. But I reckon the investment trust industry has pressured then to flatter the stats they make available.

There’s no point using the AIC website any more. Does anyone have an alternative for stats?


#2

Totally agree with you @harjinder. I’m so frustrated that they’ve removed a really useful piece of information. Why the heck have they done that?

I’m not sure where else I can get 5 and 10 year performance numbers for the various indexes the trusts use which is what I want to see. Morningstar website is pretty useless for performance data, they only share graphs and discrete annual performance.

I’ll love to know what the AIC’s explanation for this is? Why don’t they think comparing the performance of an investment trust to its chosen index is important?

I don’t get it, so maybe your theory is right @harjinder. The trust industry leaned on them.


#3

Yeah I noticed that as well, it is really annoying. Maybe they think no one noticed. It is a really important piece of information, after all, all we’re looking for is an easy way to compare performance to the benchmark the trust has chosen itself.

I hope they reverse this decision.

How can we let them know? Be good to get a dialogue going with them and see if we can reverse this.


#4

I’m not sure how we let them know @willpower, they don’t have any forums on the AIC website, though maybe they’re monitor this one.

I am equally frustrated at the change. It just seems a little bit dumb to me.


#5

I don’t understand this change at all, after all the index a trust is compared to is chosen by the trust managers and Board themselves so it is essential data.

I hope the AIC reverse this and bring back the benchmark comparisons.


#6

That’s a pretty stupid move which makes the AIC website less useful. Surely the AIC should be helping investors get the information they need, we’re more likely to invest if we can get the basic info we need.

Ridiculous change.


#7

Has anyone found out where else we can get the benchmark comparison info for 10 years? I can find it for up to 5 years but I’d really like to get it for 10 years.


#8

I can get the data from my platform analysis. Not sure which platform you use but I would check and see if you can get it there.

It would be much move useful if the AIC brought index data back because its a pain to have to log in to my platform account to get it.


#9

I can assure you we would like this comparative index data to be available on the AIC website.

Unfortunately, index licenses over the years have got more expensive and complex to administer as the index providers look to monetize their offering. That is why the AIC cannot provide such comparative statistics at this time.

The factsheet of the investment company, along with the annual and interim reports, are situated on each company web page on the AIC site. For the vast majority of cases, a user can simply click on the factsheet icon and it will bring up the most recent factsheet which will compare its performance against its chosen benchmark.

The AIC are in active talks with index providers with an aim to re-instate comparative indices at some stage in the future.

There is a contact us button on the AIC website where people are encouraged to engage with us. Please do get in touch if you have any questions about the AIC website or the data.


#10

Thanks you for taking the time to respond to us @Annabel_Brodie-Smith_AIC I appreciate that you have made the effort.

I understand why you have taken the index comparison data away, though it still is a bummer from my point of view as an investor.

Although it is true that you can get data form the factsheets most don’t provide 10 year data which is why I like using the AIC website so much.


#11

I think benchmark comparisons are very useful so it is a shame that they’re gone from the AIC website. If more investment trusts provided data stretching back as far as 10 years we could get it from the trusts’ websites but most of them don’t bother. :unamused:

I echo @harjinder 's appreciation for your response though @Annabel_Brodie-Smith_AIC :slight_smile:


#12

I shall miss the convenience of being able to get the data easily via the AIC website but hay-ho.

At least you have give us the courtesy of explaining why you have removed it which is good of you.


#13

I think the issue here is it can be quite difficult to get uniformed performance data from investment trusts over an above the minimum that the regulator determines is required.

The AIC was handy because it had the data you need in an easy to find place. Now it’s gone and you turn to the investment trusts websites they decide for themselves what performance stats they want to share, other than the statutory requirements, which means in many instances it won’t be easy to get the data you need.


#14

Maybe all the members of WhichInvestmentTrust.com forums can club together and sponsor the AIC @Annabel_Brodie-Smith_AIC - I don’t know how many of people that would be? maybe 10,000? Of course we’d want our names displayed below the benchmark data, you’d okay with 10,000 names below the benchmark table wouldn’t ya? Ha! :grinning::rofl::laughing::wink::joy::balloon:


#15

Depends on how much it’s going to cost @andreacz, any more than £500 per week and it’s too expensive for me! :crossed_fingers: :frowning_woman:


#16

It is actually quite hard to easily get sufficient comparison information on investment trusts. I’ve frustrated over it this morning.

I miss the index data the AIC user to display though I accept @Annabel_Brodie-Smith_AIC explanation that’s it’s down to the cost of it.

I have a suggestion for @whichinvest, Alex Simpson at WhichInvestmentTrust (I have emailed Alex before) - couldn’t you approach the investment trust industry and ask them to sponsor it on this website? After all you specialize in covering investment trusts and it seems like there are rather a lot of investors who use this website, it be really helpful to be able to look up investment trust data here.


#17

I second your suggestion @willpower - sounds like a good idea to me. maybe Baillie Gifford, Henderson and Aberdeen could club together and pay for it.


#18

Hi @willpower, Alex Simpson here staffing the @whichinvest account, and I do remember our email convo.

I believe we did look in to getting a data feed on here but the cost was prohibitive.

I’m sure if any fund management group wanted to sponsor WhichinvestmentTrust.com we’d be open to that discussion.

I will pass your comment on to our editor @dicem.


#19

@whichinvest I think @willpower 's suggestion of getting the asset management industry to pay for providing the data on this website is not only sensible but achievable.

I used to be responsible for a large multi billion dollar division for a large consumer products company (I won’t confirm whom, but they are re-domiciling away from the UK to the Netherlands).

I don’t mean to be vulgar, but I have a bob or two, and I am sure there are many other people who use this website who have a bob or two too.

At my old firm, we would jump at the opportunity to align ourselves with influential blogs and websites like this one, as a means of reaching potential customers like me.

I wouldn’t imagine it would cost much more than £40-£50k to get a comprehensive data feed on investment trusts that includes the index comparisons data the AIC have stopped displaying. One of more of the investment industry behemoths could pay for this not only for this website but for @Annabel_Brodie-Smith_AIC website too.


#20

Thanks for your feedback and suggestion @derekw. I’ll pas them on to my boss and editor.

Can’t think what company you used to work for. Anyhow, I must dash, gotta wash my clothes with some Persil, and I’m dying for a Magnum ice cream, or maybe ben & jerry’s. I’ll be sure to wash my hands with Dove soap first. :wink::smiley::wink: