Congratulations to our 2026 Shortlist!

The awards highlight outstanding managers in this important part of the market, who have delivered consistently strong performance for investors across a variety of sectors and the judges believe can continue to perform well in the future.

The shortlists for the awards are constructed using scores provided by the AIC, using Morningstar data.

UK All Companies

Baillie Gifford UK Growth Trust plc

Fidelity Special Values plc

Mercantile Investment Trust plc

UK Income

Aberdeen Equity Income Trust plc

City of London Investment Trust plc

CT UK High Income Trust plc

JPMorgan Claverhouse plc

Law Debenture Corporation plc

Lowland Investment Company plc

Temple Bar Investment Trust plc

UK Smaller Companies

Aberforth Smaller Companies Trust plc

Henderson Smaller Companies Investment Trust plc

JPMorgan UK Small Cap Growth & Income plc

Odyssean Investment Trust plc

River UK Micro Cap Limited

Rockwood Strategic plc

Asia Pacific

Aberdeen Asian Income Fund Limited

Invesco Asia Dragon Trust 

JPMorgan Asia Growth & Income 

Pacific Horizon Investment Trust plc

Schroder Asian Total Return Investment Company

Schroder AsiaPacific Fund plc

Schroder Oriental Income Fund

Europe

Baillie Gifford European Growth Trust plc

BlackRock Greater Europe Investment Trust plc

Fidelity European Trust plc

JPMorgan European Growth & Income plc

Global

Alliance Witan plc

AVI Global Trust plc

Bankers Investment Trust plc

Brunner Investment Trust plc

F&C Investment Trust plc

Invesco Global Equity Income Trust plc

Monks Investment Trust plc

Murray International Trust plc

Scottish Mortgage Investment Trust plc

Overseas Smaller Companies

Aberdeen Asia Focus plc

AVI Japan Opportunity Trust plc

Edinburgh Worldwide Investment Trust plc

JPMorgan European Discovery Trust plc

Nippon Active Value Fund plc

The European Smaller Companies Trust plc

Emerging Markets

Ashoka WhiteOak Emerging Markets Trust plc

Barings Emerging EMEA Opportunities plc

Fidelity Emerging Markets Limited

JPMorgan Emerging Markets Dividend Income plc

Templeton Emerging Markets Investment Trust plc

Flexible

Caledonia Investments plc

CT Global Managed Portfolio Growth plc

CT Global Managed Portfolio Income plc

Hansa Investment Company Ltd

Majedie Investments plc

MIGO Opportunities Trust plc

RIT Capital Partners plc

Single Country Emerging

Baillie Gifford China Growth Trust plc

Fidelity China Special Situations plc

India Capital Growth Fund

JPMorgan China Growth & Income plc

Vietnam Enterprise Investments Limited

Single Country Developed

Baillie Gifford US Growth Trust plc

CC Japan Income & Growth Trust plc

JPMorgan Japanese Investment Trust plc

North American Income Trust plc

Schroder Japan Trust plc

Private Equity and Growth Capital

CT Private Equity Trust plc

HarbourVest Global Private Equity Limited

ICG Enterprise Trust

Oakley Capital Investments Limited

Pantheon International plc

Patria Private Equity Trust

Schiehallion Fund Limited

Seraphim Space Investment Trust plc

Debt

BioPharma Credit plc

CQS New City High Yield Fund

CVC Income & Growth Limited

Invesco Bond Income Plus Limited

TwentyFour Income Fund Limited

TwentyFour Select Monthly Income Fund Limited

Property

AEW UK REIT plc

Alternative Income REIT plc

Custodian Property Income REIT plc

Real Estate Credit Investments Limited

Target Healthcare REIT plc

TR Property Investment Trust plc

Infrastructure

3i Infrastructure plc

Cordiant Digital Infrastructure Limited

Ecofin Global Utilities & Infrastructure Trust plc

Pantheon Infrastructure plc

Renewable Energy Infrastructure

Foresight Environmental Infrastructure Limited

Foresight Solar Fund Limited

Greencoat Renewables plc

Octopus Renewables Infrastructure Trust plc

Technology

Allianz Technology Trust plc

Herald Investment Trust plc

Manchester & London Investment Trust plc

Polar Capital Technology Trust plc

Commodities & Natural Resources

Baker Steel Resources Trust Limited

BlackRock Energy and Resources Income Trust plc

CQS Natural Resources Growth & Income plc

Golden Prospect Precious Metals Ltd

Healthcare and Biotech

Biotech Growth Trust plc

International Biotechnology Trust plc

Polar Capital Global Healthcare Trust plc

RTW Biotech Opportunities Ltd

Worldwide Healthcare Trust plc

VCT

Albion Enterprise VCT

Maven Income & Growth VCT

Northern Venture Trust

Octopus Apollo VCT

Pembroke VCT

ProVen VCT

Triple Point Venture VCT

Unicorn AIM VCT

Global Group of the Year (based on shortlisted trusts)

Aberdeen Investments

Baillie Gifford

Columbia Threadneedle Investment Business Limited

Fidelity

Janus Henderson Investors

J.P.Morgan Asset Management

Schroders