The website is directed only at Professional Clients in the UK. The website is issued by Asset Value Investors Limited (“AVI”), in respect of British Empire Trust plc (“British Empire”). AVI is authorised and regulated by the UK Financial Conduct Authority (“FCA”). British Empire is a public company listed and traded on the London Stock Exchange.

You agree that we may contact you about our products and services that we believe you might be interested in.

The price of the Shares will be determined by supply and demand in the market as well as NAV per Share. The market price of the Shares is therefore likely to fluctuate and may represent either a premium or discount to NAV per Share.


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Exploring investment opportunities for over 125 years

Where could you find undervalued prime manhattan real estate? Toronto

Where could you find a successful but undervalued online global fashion brand? Offline in Stockholm

Key facts

  • Total assets £915 million*
  • Launch date 1 July 1889
  • Average Annual Return 11.9%**
  • Annual charge 0.90%***
ABOUT THE TRUST * As at 30 September 2016
** Source: Morningstar, performance period 30 June 1985 to 30 September 2016, TR net of fees, GBP
*** As at 30 September 2015, includes: management fee 0.70%, marketing and administration costs

How to invest

Asset Value Investors’ Stocks & Shares ISAs and Share Plans are two ways of enjoying stock market returns through an investment trust. They’re also, in the case of a Stocks & Shares ISA, a tax efficient way of investing.

Stocks and Shares ISA

The Asset Value Investors Stock & Shares Individual Savings Account (ISA) allows you to invest up to £15,240 each tax year.

Find out more and apply

Share Plan

The AVI Share Plan is a savings plan which aims to provide a simple way for private investors to purchase shares in the British Empire Trust.

Find out more and apply

Innovative Finance ISA

Asset Value Investors Ltd do not offer Innovative Finance ISAs


Latest data

British Empire Share Price
NAV: 696.80
Dividend Yield: 1.91
As of 18/10/16 , Currency: GBX

Price Performance

December 2005 to December 2015


Joe Bauernfreund interview with Charles Stanley Direct
Joe Bauernfreund interview with Fidelity International





Managers Comment

More comments September

BTEM had a good month with its NAV rising by 4.5%.  Strong individual stock performance, the portfolio discount narrowing 40bps, and the pound being weak against all major currencies helped returns. Aker, comfortably our best performer over the last year, was also our top contributor over the month despite its discount widening slightly (by 50bps). […]


News and Endorsements

Case Studies


About British Empire

British Empire Trust p.l.c. (British Empire) is a closed-end investment trust with shares listed on the London Stock Exchange and part of the FTSE 250 index. The investment objective is to achieve capital growth through a focused portfolio of investments, particularly in companies whose share prices stand at a discount to estimated underlying net asset value.

British Empire is managed by Asset Value Investors Limited (AVI). Working closely with British Empire Trust, AVI specialise in seeking positive results from opportunities that others fail to spot.

British Empire Trust 125 Years Book

British Empire Trust 125 Years Book

(hard copies available upon request to UK addresses only)


Morningstar Analyst Rating

as at 9 December 2015

Morningstar® Fund Report™ Morningstar® Analyst
Research Report™

What is an Investment Trust?

An investment trust is simply a public limited company that issues shares in exchange for cash from investors. These cash funds are then pooled and reinvested in assets such as other stock market shares, bonds or property.

It’s the role of asset management companies such as AVI to plan and oversee investments on behalf of investment trusts and to ensure they deliver as profitable a return as possible for trust shareholders.

What's The Advantage Of Investment Trusts?