M&L Capital Management
LSE: MNL

Manchester & London Investment Trust

Best Global Equities Trust – Citywire Investment Trust Awards 2024 & 2025
See the Track RecordWatch the Introduction
Performance as at 6 October 2026
Calendar Year to Date
+41.3%
NAV total return
Share price +37.4%
3 Years
+43.8%p.a.
NAV total return
Share price +41.2% p.a.
Since ChatGPT
+43.1%p.a.
NAV total return · From 29 Nov 2022
Share price +38.4% p.a.
Dividend Yield
4.0%
On the share price · 29 September 2026
12-Month Discrete Performance NAV total return · share price total return
28/09/21 – 27/09/22−29.3%Share price −32.8%
27/09/22 – 03/10/23+23.7%Share price +22.3%
03/10/23 – 01/10/24+53.5%Share price +61.1%
01/10/24 – 30/09/25+41.8%Share price +35.3%
30/09/25 – 29/09/26+28.7%Share price +22.6%

Past performance is not a reliable indicator of future returns. Your capital is at risk. Total returns with dividends reinvested, to 6 October 2026. Source: Bloomberg L.P.; NAV calculated weekly by Waystone.

Discrete Performance Portfolio Latest Factsheet

Awards

Award-Winning Performance

Best Global Equities Trust – Citywire Investment Trust Awards 2025
2025

Best Global Equities Trust

Citywire Investment Trust Awards 2025

Mark Sheppard – AAA Rated – Citywire manager rating, October 2025
AAA

Mark Sheppard – AAA Rated

Citywire manager rating, October 2025

Best Global Equities Trust – Citywire Investment Trust Awards 2024
2024

Best Global Equities Trust

Citywire Investment Trust Awards 2024

Performance

Track Record

Performance
Share Price Total Return—Loading history
NAV Total Return—Loading history
Last Reported Share Price——
Share Price TR /NAV TR
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Indexed to 100 at the selected period start. Ordinary and special dividends are reinvested on the ex-dividend date, at that day's closing share price for shareholder returns and the last published NAV for NAV returns. Source: supplied Bloomberg price/NAV data and MNL dividend records. Past performance is not a reliable indicator of future results.

Introduction to MNL

Introduction to MNL – video with Mark Sheppard, M&L Capital Management

Who we are

Our central investment thesis is that we believe in the increasing economic power of the Machine in the two century long battle for supremacy between Man & Machine.

More excitingly, we believe you can construct investment strategies to convert this shift in supremacy into investment returns. We will explain our investment methodology in more detail in the next section but in short, we believe one should always: Long the Future!

M & L Capital Management Limited (“MLCM”) is an Alternative Investment Fund Management Firm (“AIFM”) specialising in Intellectual Property rich, fast growth, Global Equities.

Our flagship fund is the London Stock Exchange (“LSE”) listed, Manchester & London Investment Trust plc (MNL.L), which has been listed on the LSE’s Premium List since 1997.

Learn More
Our Journey M&L Fund Documentation

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October 2026

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Your Questions

Most of the questions you may have about the fund including your holding, certificates, dividends etc. can be found answered in our FAQ section. Please click here.

Your capital is at risk. The value of investments and any income can fall as well as rise and you may not get back what you invested. Past performance is not a reliable indicator of future returns. MNL holds concentrated positions, can use derivatives and gearing, and does not hedge currency. Its shares may trade at a discount or premium to NAV.

Whilst Manchester & London Investment Trust (“MNL”) is available for investment by any investor on the London Stock Exchange platform, M & L Capital Management is only the marketing agent for MNL in the UK.

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Our central investment thesis is that we believe in the increasing economic power of the Machine in the two century long battle for supremacy between Man & Machine

Contact Information

ir@mlcapman.com

First Floor, 197 Kensington High Street, London W8 6BA, United Kingdom.

Certificates, Dividends and other Shareholding Enquiries: MUFG Corporate Markets (UK) Limited (Registrar) tel 0371 664 0300

Nothing on this website is an offer, solicitation or investment advice. It is intended for UK investors only. Past performance is not a reliable indicator of future returns, and the value of investments can fall as well as rise.

M&L Capital Management Limited (“MLCM”) is authorised and regulated by the Financial Conduct Authority under firm reference number 672181. MLCM is registered in England & Wales under number 04089418, with its registered address at First Floor, 197 Kensington High Street, London, W8 6BA.

© 2026 M&L Capital Management Limited. All rights reserved.

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Manchester & London Investment Trust plc

Important Information

About This Website

Published by M&L Capital Management Limited (“MLCM”), authorised and regulated by the Financial Conduct Authority (FRN 672181) and the UK marketing agent for Manchester & London Investment Trust plc (“MNL”), which is listed on the London Stock Exchange.

Nothing on this site is an offer, solicitation or invitation to buy or sell shares, or investment advice. It is intended for UK investors only and is not an offer of securities elsewhere, including the United States.

Past performance is not a reliable indicator of future returns.

The value of investments can fall as well as rise and you may get back less than you invest.

Beware of Scams

MLCM never offers direct investments or loans, holds client money or deals via social media. See our Fraudulent Activity Disclosure.

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