British Empire Trust (BTEM) has named Joe Bauernfreund as sole lead manager and successor to John Pennink, who had run the trust since 2002. The IC Top 100 Fund has also changed its name from British Empire Securities & General Trust. Over one, three and five years it has underperformed its benchmark, the MSCI AC World Index Ex USA, as well as broader global indices and the Association of Investment Companies (AIC) Global sector average.
Cumulative share price return of British Empire versus key indices
| 1 year (%) | 3 years (%) | 5 years (%) | 10 years (%) | |
|---|---|---|---|---|
| British Empire ord | -5.6 | 13.4 | 7.9 | 38.8 |
| AIC Global sector average | 6.0 | 40.2 | 50.1 | 107.4 |
| MSCI ACWI All Cap NR GBP | 4.1 | 41.6 | 49.1 | NA |
| MSCI ACWI Ex USA NR USD | -1.5 | 19.7 | 15.4 | 68.2 |