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Members of the Association At 30 September 2021

In document Annual Report and Accounts (Page 38-43)

3i Infrastructure plc Baker Steel Resources Trust Limited

Aberdeen Asian Income Fund Limited The Bankers Investment Trust PLC

Aberdeen Diversified Income and Growth Trust plc Barings Emerging EMEA Opportunities PLC Aberdeen Emerging Markets Investment Company Baronsmead Second Venture Trust plc Aberdeen Japan Investment Trust PLC Baronsmead Venture Trust plc

Aberdeen Latin American Income Fund Limited BB Healthcare Trust plc Aberdeen New Dawn Investment Trust PLC BBGI Global Infrastructure S.A.

Aberdeen New India Investment Trust PLC BH Macro Limited Aberdeen New Thai Investment Trust PLC BioPharma Credit PLC Aberdeen Smaller Companies Income Trust plc The Biotech Growth Trust Plc

Aberdeen Standard Asia Focus PLC BlackRock Energy and Resources Income Trust plc Aberdeen Standard Equity Income Trust PLC BlackRock Frontiers Investment Trust plc

Aberdeen Standard European Logistics Income PLC BlackRock Greater Europe Investment Trust plc Aberforth Smaller Companies Trust plc BlackRock Income and Growth Investment Trust plc Aberforth Split Level Income Trust plc BlackRock Latin American Investment Trust PLC Acorn Income Fund Limited BlackRock Smaller Companies Trust plc

AEW UK REIT plc BlackRock Sustainable American Income Trust plc

Albion Development VCT PLC BlackRock Throgmorton Trust plc Albion Enterprise VCT PLC BlackRock World Mining Trust plc Albion Technology & General VCT PLC Blackstone Loan Financing Limited Albion Venture Capital Trust PLC Blue Planet Investment Trust plc

Alliance Trust PLC Bluefield Solar Income Fund Limited

Allianz Technology Trust PLC BMO Capital and Income Investment Trust PLC Alternative Liquidity Fund Limited BMO Commercial Property Trust Limited

Amati AIM VCT plc BMO Global Smaller Companies PLC

Amedeo Air Four Plus Limited BMO Managed Portfolio Trust plc Apax Global Alpha Limited BMO Private Equity Trust plc

Aquila Energy Efficiency Trust PLC BMO Real Estate Investments Limited Aquila European Renewables Income Fund PLC BMO UK High Income Trust plc Artemis Alpha Trust plc Boussard & Gavaudan Holding Limited Ashoka India Equity Investment Trust plc British & American Investment Trust PLC

Asia Dragon Trust plc British Smaller Companies VCT plc

Athelney Trust plc British Smaller Companies VCT 2 plc

Atlantis Japan Growth Fund Limited Brown Advisory US Smaller Companies PLC

Augmentum Fintech plc The Brunner Investment Trust PLC

Aurora Investment Trust plc Calculus VCT plc

AVI Global Trust plc Caledonia Investments plc

AVI Japan Opportunity Trust plc Canadian General Investments, Limited Axiom European Financial Debt Fund Limited Capital Gearing Trust p.l.c.

Bailiwick Investments Limited CATCo Reinsurance Opportunities Fund Limited Baillie Gifford China Growth Trust plc CC Japan Income & Growth Trust plc

Baillie Gifford European Growth Trust plc CEIBA Investments Limited

The Baillie Gifford Japan Trust PLC Channel Islands Property Fund Limited

CIP Merchant Capital Limited GCP Asset Backed Income Fund Limited The City of London Investment Trust plc GCP Infrastructure Investments Limited Civitas Social Housing PLC GCP Student Living plc

Cordiant Digital Infrastructure Limited Geiger Counter Limited

CQS Natural Resources Growth and Income plc Gore Street Energy Storage Fund plc CQS New City High Yield Fund Limited Greencoat Renewables PLC

Crown Place VCT plc Greencoat UK Wind PLC

Crystal Amber Fund Limited Gresham House Energy Storage Fund PLC

Custodian REIT plc Gresham House Renewable Energy VCT 1 plc

CVC Credit Partners European Opportunities Limited Gresham House Renewable Energy VCT 2 plc Digital 9 Infrastructure plc Gresham House Strategic plc

The Diverse Income Trust plc Gulf Investment Fund Plc

Doric Nimrod Air Three Limited Hansa Investment Company Limited Downing ONE VCT plc HarbourVest Global Private Equity Limited

Downing FOUR VCT plc Hargreave Hale AIM VCT plc

Downing Renewables & Infrastructure Trust PLC Henderson Diversified Income Trust plc Downing Strategic Micro-Cap Investment Trust plc Henderson European Focus Trust plc

DP Aircraft I Limited Henderson EuroTrust plc

Draper Esprit VCT plc Henderson Far East Income Limited

Drum Income Plus REIT plc Henderson High Income Trust plc

Dunedin Enterprise Investment Trust PLC Henderson International Income Trust plc Dunedin Income Growth Investment Trust PLC Henderson Opportunities Trust plc

Ecofin Global Utilities and Infrastructure Trust plc The Henderson Smaller Companies Investment Trust plc Ecofin U.S. Renewables Infrastructure Trust PLC Herald Investment Trust plc

Edinburgh Investment Trust plc HgCapital Trust plc Edinburgh Worldwide Investment Trust plc HICL Infrastructure PLC

Ediston Property Investment Company plc Highbridge Tactical Credit Fund Limited

EJF Investments Limited Hipgnosis Songs Fund Limited

Electra Private Equity plc Home REIT plc

EP Global Opportunities Trust plc Honeycomb Investment Trust plc European Assets Trust PLC HydrogenOne Capital Growth plc European Opportunities Trust PLC ICG Enterprise Trust PLC

F&C Investment Trust PLC ICG-Longbow Senior Secured UK Property Debt Investments

Fair Oaks Income Limited Impact Healthcare REIT plc

Fidelity Asian Values PLC Impax Environmental Markets plc Fidelity China Special Situations PLC The Income & Growth VCT plc

Fidelity Emerging Markets Limited The Independent Investment Trust PLC Fidelity European Trust PLC India Capital Growth Fund Limited Fidelity Japan Trust PLC International Biotechnology Trust plc Fidelity Special Values PLC International Public Partnerships Limited Finsbury Growth & Income Trust PLC Invesco Asia Trust plc

Foresight 4 VCT plc Invesco Bond Income Plus Limited

Foresight Solar & Technology VCT plc Invesco Perpetual UK Smaller Companies Investment Trust plc Foresight Solar Fund Limited Invesco Select Trust plc

Foresight VCT plc The Investment Company plc

Fundsmith Emerging Equities Trust plc JLEN Environmental Assets Group Limited Gabelli Merger Plus+ Trust Plc JPEL Private Equity Limited

JPMorgan American Investment Trust plc Mobeus Income & Growth 2 VCT plc JPMorgan Asia Growth & Income plc Mobeus Income & Growth 4 VCT plc JPMorgan China Growth & Income plc Mobius Investment Trust plc

JPMorgan Claverhouse Investment Trust plc Momentum Multi-Asset Value Trust plc

JPMorgan Elect plc Monks Investment Trust PLC

JPMorgan Emerging Markets Investment Trust plc Montanaro European Smaller Companies Trust plc JPMorgan European Discovery Trust plc Montanaro UK Smaller Companies Investment Trust PLC JPMorgan European Investment Trust plc Murray Income Trust PLC

JPMorgan Global Core Real Assets Limited Murray International Trust PLC

JPMorgan Global Emerging Markets Income Trust plc NB Distressed Debt Investment Fund Limited JPMorgan Global Growth & Income plc NB Global Monthly Income Fund Limited JPMorgan Indian Investment Trust plc NB Private Equity Partners Limited JPMorgan Japan Small Cap Growth & Income plc NextEnergy Solar Fund Limited JPMorgan Japanese Investment Trust plc Nippon Active Value Fund PLC JPMorgan Mid Cap Investment Trust plc The North American Income Trust plc JPMorgan Multi-Asset Growth & Income plc Northern 2 VCT PLC

JPMorgan Russian Securities plc Northern 3 VCT PLC JPMorgan UK Smaller Companies Investment Trust plc Northern Venture Trust PLC JPMorgan US Smaller Companies Investment Trust plc Oakley Capital Investments Limited Jupiter Emerging & Frontier Income Trust PLC Octopus AIM VCT PLC

Jupiter Green Investment Trust PLC Octopus AIM VCT 2 plc Keystone Positive Change Investment Trust plc Octopus Apollo VCT plc

Kings Arms Yard VCT plc Octopus Renewables Infrastructure Trust plc KKV Secured Loan Fund Limited Octopus Titan VCT plc

The Law Debenture Corporation p.l.c. Odyssean Investment Trust plc

The Lindsell Train Investment Trust plc Oxford Technology Venture Capital Trust plc

LMS Capital PLC Pacific Assets Trust plc

Lowland Investment Company plc Pacific Horizon Investment Trust plc

LXI REIT plc Pantheon International Plc

M&G Credit Income Investment Trust plc Pershing Square Holdings Ltd Macau Property Opportunities Fund Limited Personal Assets Trust plc

Majedie Investments PLC Phoenix Spree Deutschland Limited

Marble Point Loan Financing Limited Polar Capital Global Healthcare Trust plc Martin Currie Global Portfolio Investment Trust plc Polar Capital Global Financials Trust plc Marwyn Value Investors Limited Polar Capital Technology Trust PLC Maven Income & Growth VCT PLC Premier Miton Global Renewables Trust plc Maven Income & Growth VCT 3 PLC Princess Private Equity Holding Limited Maven Income & Growth VCT 4 PLC ProVen Growth and Income VCT plc Maven Income & Growth VCT 5 PLC ProVen VCT PLC

Menhaden Resource Efficiency PLC The PRS REIT plc The Mercantile Investment Trust plc Puma Alpha VCT plc

The Merchants Trust PLC Puma VCT 11 plc

Mid Wynd International Investment Trust PLC Puma VCT 12 plc Middlefield Canadian Income PCC Puma VCT 13 plc

Miton Global Opportunities plc Real Estate Credit Investments Limited

Miton UK Microcap Trust plc Regional REIT Limited

Mobeus Income & Growth VCT plc The Renewables Infrastructure Group Limited

Residential Secure Income plc Tetragon Financial Group Limited Rights and Issues Investment Trust P.L.C. The Scottish Investment Trust PLC

RIT Capital Partners plc Third Point Investors Limited

River and Mercantile UK Micro Cap Investment Company TOC Property Backed Lending Trust PLC Riverstone Credit Opportunities Income Plc TR European Growth Trust PLC

Riverstone Energy Limited TR Property Investment Trust PLC

RM Infrastructure Income PLC Triple Point Energy Efficiency Infrastructure Company plc Round Hill Music Royalty Fund Limited Triple Point Income VCT plc

RTW Venture Fund Limited Triple Point Social Housing REIT plc Ruffer Investment Company Limited Triple Point VCT 2011 plc

The Schiehallion Fund Limited Tritax Big Box REIT plc Schroder Asian Total Return Investment Company plc Tritax EuroBox plc

Schroder AsiaPacific Fund plc Troy Income & Growth Trust plc Schroder British Opportunities Trust plc Tufton Oceanic Assets Limited Schroder BSC Social Impact Trust plc TwentyFour Income Fund Limited

Schroder European Real Estate Investment Trust plc TwentyFour Select Monthly Income Fund Limited

Schroder Income Growth Fund plc UIL Limited

Schroder Japan Growth Fund plc UK Commercial Property REIT Limited Schroder Oriental Income Fund Limited UK Mortgages Limited

Schroder Real Estate Investment Trust Limited Unicorn AIM VCT PLC Schroder UK Mid Cap Fund plc Urban Logistics REIT plc Schroder UK Public Private Trust plc US Solar Fund plc

ScotGems plc Utilico Emerging Markets Trust plc

The Scottish American Investment Company P.L.C. Value and Indexed Property Income Trust PLC Scottish Mortgage Investment Trust PLC Ventus VCT plc

The Scottish Oriental Smaller Companies Trust P.L.C. Ventus 2 VCT plc

SDCL Energy Efficiency Income Trust plc VH Global Sustainable Energy Opportunities plc Secured Income Fund plc Vietnam Enterprise Investments Limited

Securities Trust of Scotland plc VietNam Holding Limited

Seneca Growth Capital VCT plc VinaCapital Vietnam Opportunity Fund Limited Sequoia Economic Infrastructure Income Fund Limited Volta Finance Limited

Seraphim Space Investment Trust plc VPC Specialty Lending Investments PLC

Shires Income plc Warehouse REIT plc

SME Credit Realisation Fund Limited Weiss Korea Opportunity Fund Ltd Smithson Investment Trust plc Witan Investment Trust plc

Standard Life Investments Property Income Trust Worldwide Healthcare Trust PLC Standard Life Private Equity Trust PLC Worsley Investors Limited Standard Life UK Smaller Companies Trust PLC

Starwood European Real Estate Finance Limited Strategic Equity Capital plc

Supermarket Income REIT plc Sure Ventures PLC

SVM UK Emerging Fund plc Target Healthcare REIT plc

Taylor Maritime Investments Limited Temple Bar Investment Trust PLC

Templeton Emerging Markets Investment Trust PLC

Acronyms

AGM Annual General Meeting

ESG Environmental, Social and Governance

EU European Union

FCA Financial Conduct Authority

FRC Financial Reporting Council

FRS Financial Reporting Standard

IPO Initial Public Offering

ISA (UK) International Standards on Auditing (UK)

LTAF Long-Term Asset Fund

VCT Venture Capital Trust

The Association of Investment Companies (Registered Number 04818187)

24 Chiswell Street London EC1Y 4YY

Telephone; 020 7282 5555 Email: [email protected] Website: www.theaic.co.uk

In document Annual Report and Accounts (Page 38-43)

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