New data from the Association of Investment Companies (AIC) reveals which are the top-performing investment companies which have not paid a dividend over five and ten years.
Allianz Technology, from the technology and media sector, topped the list of best performers over the past five years with a return of 221% (and came second over a ten-year period, delivering a 599% gain).
Baillie Gifford Shin Nippon, from the Japanese smaller Ccompanies sector, topped the ten-year table, giving investors a return of 639%.
Seven investment companies appear on both the five and ten-year lists of best performers (full lists included in the gallery, above) - Allianz Technology, Polar Capital Technology, Baillie Gifford Shin Nippon, Fidelity Japan, HarbourVest Global Private Equity, Oryx International Growth and Pantheon International.
The 13 investment companies which feature on one or both lists come from ten different sectors. Technology & Media, Private Equity and UK Smaller Companies are represented most with two investment companies each.
There is also a theme of investment companies which invest in smaller companies, making up five of the 13 entrants (38%).