The shortlists for the awards are constructed using scores provided by the AIC, using Morningstar data.
Investment companies need a three-year track record to 30 June 2021 to be included in the main award categories but may be shortlisted in the Best New Issue category (covering the 24-month period to 30 June 2021).
Within each sector, companies have their cumulative fair NAV returns calculated over three discrete periods in sterling terms. Returns over the 12 months to 30 June 2021 are given a 40% weighting, the 12 months to 30 June 2020 are given a 30% weighting, while the 12 months to 30 June 2019 accounts for 20% of the overall score. The final 10% weight is given to the full cumulative NAV return over the three years to 30 June 2021.
These scores are added to give a single score out of 100, the highest of which will be shortlisted for consideration within the various awards sectors.
Shortlisted trusts and their boards will be contacted by Investment Week and asked to submit a questionnaire, which will then be used in the qualitative judging stage.
The judging panel for the awards includes some of the UK’s leading researchers and investors in investment companies, as well as several senior board members with many years’ experience in the industry.
Rising Star of the Year
Investment Week is also accepting nominations for this year’s Investment Company of the Year Rising Star Award.
This is an individual award aimed at highlighting the achievements of newer members of the industry and the skills they can bring to the sector.
This accolade is open to nominees with a maximum of six years' experience in a role directly connected to investment trusts/VCTs. Individuals can nominate themselves or be nominated by colleagues.
Nominees can work in a range of roles connected to investment trusts and VCTs including fund management, product selection, research, investor relations, marketing or distribution.
Judges will consider professional progression and performance but will also take into account factors including: passion for the investment trust/VCT sector; excellence in their role; improvements to existing processes or products; engagement in industry-wide initiatives; and helping promote investment trusts/VCTs more widely.
Jackie Beard Award for Outstanding Contribution to the Industry
Nominated by the judging panel, this award will be presented in tribute to Jackie to an individual who has gone above and beyond their job role to make a significant contribution to the investment company sector during their career. The judges will consider areas including: a track record of exceptional performance or service to the industry; dedication and enthusiasm for promoting the investment company sector and increasing investor engagement; as well as creating opportunities for others to succeed in the industry through mentoring, volunteering or educational initiatives.