On Thursday evening, I had the pleasure of attending the Association of Investment Companies Annual Dinner—a gathering that celebrated not only a 150-year-old financial institution but also its ongoing relevance to a modern, evolving UK.
My thanks to Aaron Stocks, Partner at Travers Smith, for the generous invitation. (With a surname like his, it was almost inevitable he’d become a top-tier M&A and shareholder activism lawyer!) It was a night that felt meaningful—not just because of the excellent company and well-orchestrated evening, but because of what it signaled: a clear commitment by the AIC to help UK capital markets thrive through education, transparency, and, yes, storytelling.
From CEO Richard Stone’s welcome address to the standout keynote by broadcaster and adventurer Simon Reeve, there was a running theme—progress, through purpose and people. For an organisation rooted in the City’s history, the AIC doesn’t feel stuck in the past. It feels like it’s building a bridge to the future—one that new generations of investors will want to walk across.
A huge brava to Annabel Brodie-Smith and the whole AIC team. Your passion is infectious. It’s no small feat to make investment trusts feel exciting, but you do it—with grace, grit, and generosity of spirit. I’ve long believed that investment trusts are underrated gems for individual investors, especially the rising wave of Gen Z and Millennial savers. And events like this remind me why: because they’re stories waiting to be rediscovered.
Speaking of Stories…
Confession: I didn’t know who Simon Reeve was until that night. (I haven’t owned a TV in years.) But listening to him recount his travels, trials, and truth-seeking across the globe, I was instantly drawn in.
He reminded me of my Britpop-era heartthrobs—Alex James of Blur, Brett Anderson of Suede, Jarvis Cocker of Pulp. Tall, lean, poetic… with the kind of authenticity that makes you feel like you’re 18 again, dancing in a smoky Toronto club next to mods and Morrissey lookalikes. Maybe I do need to reconsider the whole no-TV thing—or at least pick up one of Simon’s books.
An Industry With Roots and Reach
Investment trusts, often seen as the quiet cousins of the financial world, have deep Scottish roots—tracing back to figures like Robert Fleming, the grandfather of Ian Fleming (yes, that Fleming, of James Bond fame). It’s poetic, really. A vehicle for financial exploration with links to one of literature’s greatest adventurers.
Years ago, I came across a poster in Glasgow that read:
“TV provides artificial friends and families to lonely people.”
It’s stuck with me since. Perhaps that’s why I’ve shied away from television. But as I now reflect on Simon’s adventures—and on how investment trusts can themselves provide a kind of long-term companionship to investors—I wonder what that poster’s creator would say about AI, or finfluencers, or Substack.
The Real Adventure: Democratising Finance
It’s easy to think finance is dry. But in truth, it’s full of stories—of risk, return, resilience. And of the everyday people who put their hopes into long-term vehicles like investment trusts.
We need to bring those stories closer to the next generation.
And maybe, just maybe, the next time someone says “investment trust” to a 22-year-old, they’ll think not of dusty portfolios—but of discovery.
Thanks again to the AIC, Travers Smith, and all who made the evening feel vibrant. Here’s to more bridges between tradition and transformation.
🫶 Until next time,
Sheryl
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