Edinburgh American Assets Trust PLC


Company Number: SC000848
Date of Incorporation: 11 September 1878
Contact Details: 1 Charlotte Square, Edinburgh, EH2 4DR
Operating Details: Dissolved 1995 (absorbed into British Empire Securities and General Trust PLC)
Other names (if known):Edinburgh American Land Mortgage Company (1878-1920), 2nd British Assets Trust Limited (1920-1976) Edinburgh American Assets Trust (1976-1994) Selective Assets Trust (1994-1995)
Function of Company*: Investment (6522)
Headquarters/Base of Operations Location: Edinburgh
Area of Operation: Invested in North America and New Zealand

*Taken from Standard Industrial Classification 2003, as used by Companies House in 2010

Records


Held By: Glasgow University Archive Services UGD 228/3 & 228/8

Scope/type: Second British Assets Trust Ltd; Ledgers 1923-1967; Register of Investments and dividends 1930-1970; Investment paperwork 1960s.
Edinburgh American Assets Trust PLC; List of cheques issued (1970-1987), list of cheques received (1969-1988), loan documentation (nd), seal book (1978-1988), directors minute book (1976-1982), AGM minute book (1930-1987), initial book (1975-1985), agreements (nd), scrap books (1969-1986).

Conditions governing access/use: Normal GUAS conditions

Related records: The First British Assets Trust (UGD 228/2) and the rest of the Ivory and Sime Collection (UGD/228) are also held at GUAS

Company History


The Edinburgh American Land Mortgage Company was acquired by James Ivory’s British Assets Trust in 1920, and was subsequently renamed The Second British Assets Trust Ltd in 1925. The Trust invested funds in bonds, stocks and debentures in electrical, industrial and financial companies mainly in America with some investment in New Zealand. The Trust was managed on a day to day basis by Ivory and its successor organisation Ivory and Sime. This bond was strengthened from the 1950s under the chairmanship of Sir Alistair Blair, who had a close working relationship with Eric Ivory. However on the incorporation of Ivory and Sime in the 1970s, and the retirement of Sir Alistair the trust distanced its board from Ivory and Sime somewhat, appointing new company secretaries and independent directors (although I & S remained the trust managers). It was renamed the Edinburgh American Assets Trust in 1976, and by this point was dedicated to investment in American small and medium sized companies quoted on the stock exchange. It was partially unitised and operated under the name of Selective Assets Trust until 1995 when it was acquired by British Empire Securities and General for c. £42 million.