Joining the AIC
Membership criteria
The Association will accept as a Member a company:
1. Whose principal business is investing in a diversified portfolio of assets; and
2. Whose shares are traded on an investment exchange; and
3. Is "closed-ended".
Note:
A company that is listed under Chapter 15 of the UK Listing Rules will automatically be treated as meeting criteria 1 and 2.
A company will be considered to be “closed-ended” where the shareholders do not have the absolute right to require the company to repurchase or redeem their shares. This does not preclude from membership a company where the ability to buy in (and issue and resell) its own shares is at the discretion of its directors.
June 2006
Membership fee
Free first year membership
We are aware that prospective Members wish to see what we can do before committing to spending shareholders’ funds. New Members therefore receive their first year of membership for free. During this time you will be able to enjoy the full advantages of membership which, we believe, will demonstrate the value of being part of the AIC.
Membership fee
After the initial year, annual subscription rates are set at 1 basis point of shareholders’ funds, £100 per £million, with a minimum fee of £2,000.
Fee cap
Maximum fees for the 2007/8 financial year are:
• £37,500 (for UK domiciled Members)
• £15,000 (for non-UK domiciled Members)
How to join
Simply email Lori Fox (lori.fox@theaic.co.uk) to state that a company’s board wishes to join the AIC. If the company meets the AIC’s membership criteria we will confirm membership via return email. Membership will take immediate effect and we will begin work to include the company on the AIC’s website and in our statistics.
Part of this process will involve completing a brief membership form which requests information such as the directors’ contact details, company secretary details and some statistical information.
Further information
If you would like further information please contact Lori Fox, Director of Member Services, on lori.fox@theaic.co.uk.