The awards, created to celebrate the best of the UK financial services industry, are determined by the votes cast by readers of Shares magazine.

One of the oldest trusts, founded in 1887, independently managed Scottish Investment Trust was shortlisted for the award alongside a highly respected group of peers.

The Scottish’s high-conviction, global contrarian approach to investment differentiates it within the global category providing an alternative for investors seeking diversification. Its shareholders benefit from one of the lowest ongoing charges and highest dividend yields amongst the peer group.

The Trust has increased its regular dividend for 35 consecutive years and is classified as a ‘dividend hero’ by the Association of Investment Companies (AIC).

Alasdair McKinnon, manager of Scottish Investment Trust, said: “We are delighted to have won this award and see it as recognition for our team’s hard work throughout the year. As contrarian investors, we do not attempt to follow investment fashions and instead look for investments in which we can see long-term upside. We actively seek unpopular areas because this is where we believe the balance between risk and reward can be most favourable.”

James Will, chairman, added: “Being recognised as the ‘Best Investment Trust’ by the Shares Awards 2019 is a tremendous achievement, made all the more special as it was voted for by the general public. With 2020 on the horizon, The Scottish will continue to provide shareholders with a differentiated, cost-competitive and attractive global investment vehicle focused on delivering above-average returns and dividend growth over the longer term.”