Read https://doi.org/10.1080/00076791.2025.2464811 - Business History's article "UK investment trusts and the baring crisis"

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	Forwarded this email? Subscribe here for more New Research on British investment trusts Read https://doi.org/10.1080/00076791.2025.2464811 - Business History's article "UK investment trusts and the baring crisis" Paula de la Cruz-Fernández May 21   READ IN APP   In the late 19th century, the UK’s financial sector faced one of its earliest global shocks: the Baring crisis. This article uncovers how British investment trusts—predecessors of modern-day mutual funds—responded to this collapse. Drawing on over 27,000 historical portfolio records, the study reveals how exposure to Argentinian debt left these trusts uniquely vulnerable. Organizational History Network is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Upgrade to paid 𝑈𝐾 𝑖𝑛𝑣𝑒𝑠𝑡𝑚𝑒𝑛𝑡 𝑡𝑟𝑢𝑠𝑡𝑠 𝑎𝑛𝑑 𝑡ℎ𝑒 𝑏𝑎𝑟𝑖𝑛𝑔 𝑐𝑟𝑖𝑠𝑖𝑠 https://doi.org/10.1080/00076791.2025.2464811 by Dimitris P. Sotiropoulos & Daniele Tori Abstract This study examines professional asset management in the UK in the 1880s and 1890s focusing on investment trusts during the financial episode of the Baring crisis. It draws upon a large and unique hand-collected dataset of portfolio holdings on a year-on-year basis, comprising 27,058 securities. Using an event analysis, our findings show that investment trusts were the only heavily affected sector in the UK due to their massive portfolio exposure to Argentina. Our analysis does not pick up any strong stock selection skills in the short run but reveals a longer-term investment perspective based on large fixed-income cash flows on both sides of the balance sheet and a ‘carry-trade’ on yields. Our results also provide evidence of well-informed shareholders of these trusts, who had a very clear idea of the underlying fundamentals of their investment. & Janette Rutterford" #BizHis #FinancialHistory #EmergingMarkets #UKFinance #CarryTrade #BaringCrisis #HistoricalData #InvestmentTrusts #EconomicHistory Organizational History Network is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Upgrade to paid You're currently a free subscriber to Organizational History Network. For the full experience, upgrade your subscription. Upgrade to paid   Like Comment Restack   © 2025 Stephanie Decker Unsubscribe