<i>Money at Work:</i> The Caledonia Investment Trust
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What is it called and what sort of savings product is it?
The $3.5 billion Caledonia Investment Trust is a UK-based investment company listed on the NZ and London exchanges.
Who is behind it?
The company is 33 per cent owned by Cayzer Trust Company.
It is promoted in NZ by sharebrokers, such as First New Zealand Capital.
Who is the target market?
People wanting to buy into a global share fund, which provides growth as well as producing a track record for regular, progressive dividends.
What return does it offer?
It doesn't forecast future returns but in the past 12 months its net asset value has increased 10.4 per cent and its share price is up 4 per cent.
When was it launched?
The company has been listed on the LSE since 1960 and converted to an investment trust in April 2003.
Is it long, short or medium term?
Medium to long term, with better long-term returns likely.
What is the unique selling point?
In a way it operates in a similar fashion to a private equity firm but with minority stakes.
How strong a stomach is needed?
Mild. The fund is invested in international shares, but has a clear style and steady track record.
