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Key facts

  • Total assets £1,028 million*
  • Launch date 1 July 1889
  • Average Annual Return 12.2%**
  • Annual charge 0.87%***
ABOUT THE TRUST * As at 28 February 2018
** Source: Morningstar, performance period 30 June 1985 to 28 February 2018, TR net of fees, GBP
*** As at 30 September 2017, includes: management fee 0.70%, marketing and administration costs


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Latest data

British Empire Share Price
NAV: 807.31
Dividend Yield: 1.68
As of 15/03/18 , Currency: GBX

Videos & Podcasts

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Current Portfolio News

  • 20 Dec, 2017

    Aberdeen Private Equity (APEF)

    Aberdeen Private Equity (APEF)’s share price climbed +16% upon the announcement that an agreement had… Read More

  • 10 Nov, 2017

    Pasona Group stock story

    Hong Kong based activist investor turns its focus on Pasona Group. Pasona Group is a… Read More

  • 12 Oct, 2017


    There were once good reasons for this trust’s 34pc discount – but not anymore… Read More

  • 12 Jun, 2017

    Better Capital stock story

    Better Capital PCC announced completion of the disposal of Gardner Aerospace Holdings for an enterprise… Read More

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Price Performance

December 2007 to December 2017

Managers Comment

More comments February

Despite the headwind of a widening portfolio discount (out to 25.4% from 24.2%), BTEM’s NAV fell by just -0.3% in a month where global equity markets wobbled. In a reversal from last month, FX aided returns, but there was also solid performance in local currencies from Fondul Proprietatea, Swire Pacific, Adler Real Estate, and Aker. […]


News and Endorsements


Case Studies

  • Japanese Special Situations

    Japan has a number of characteristics that make it a compelling investment opportunity. From a valuation perspective, it is the one major global stock market….Read More

  • Vietnam Phoenix Fund

    Our position in Vietnam Phoenix Fund is now in the final innings of what has been a very successful investment (in GBP +94% total return, +30% IRR)….Read More

  • Kinnevik

    Stockholm-based Kinnevik is a good example of our strategy which seeks to invest in companies which are trading at a discount to net asset value….Read More

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 BookBritish 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?

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