Portfolio Asset Allocation of UK Investment Trusts 1914-1928

This is the dataset of a study that investigates the portfolio asset allocation of UK investment trusts between 1914 and 1928. It includes a unique hand-collected sample of of 41 companies, which comprises 40,875 portfolio holdings. According to the findings of our research, UK investment trusts not only survived WWI without major losses but had a remarkable performance in the 1920s, which led to a wave of new incorporations. The 1920s was a period of significant shifts in investment trust portfolio composition and our analysis examines the main reasons for this. We show that investment trust managers were able to adjust quickly to the new socioeconomic circumstances and secure high profitability for their shareholders. <br>

本数据集源自一项针对1914年至1928年间英国投资信托（investment trusts）投资组合资产配置的研究。该数据集包含独有的手工采集样本，涵盖41家公司，累计涉及40875笔投资组合持仓。根据本研究的结论，英国投资信托不仅安然度过第一次世界大战且未蒙受重大损失，更在1920年代展现出卓越的业绩表现，由此催生了新一轮的投资信托设立浪潮。1920年代是英国投资信托投资组合构成发生显著转变的时期，本研究的分析探究了这一变化的核心动因。研究证实，投资信托管理人能够快速适配全新的社会经济环境，为其股东实现了丰厚的投资回报。