“ The idea that trade unions should be involved in ‘playing’ the financial markets will seem incongruous to many people, not least to many active trade unionists who spend their time defending their members from the excesses of capitalism. ”

“ But playing the market for a return that benefits working people, members of trades unions, makes a lot of sense. ”

“ So it seemed to a group of far-sighted trade unionists in the early 1960s. They were the founders of Trade Union Fund Managers and their story ... is a real success story, a David taking on a Goliath, and deserves to be told widely. It is also a continuing story and I would urge all trade unionists who have not heard about TUFM and what they can do in terms of financial investment to take a little time out to ..... perhaps consider whether riding the tiger is more profitable than standing in its way. ”

— John Monks

Downloads

Unit Trusts were first designed over 70 years ago specifically to give individual investors a simple and inexpensive method of investing in company shares.

We have a range of PDF brochures available to download for further reading.

Our Heritage

1960 — Desmond Hirshfield believed the unthinkable was possible

His radical idea was that trade unions should be involved in playing the financial markets

1961 — Launch of Trades Union Unit Trust with modest initial investment target of £1m

Desmond wins backing of key unions, including National Union of Railwaymen, Electricians Union, the Shopworkers Union, and the Durham Miners.

Hill Samuel appointed as investment managers.

1965 — 5 years of wise investment and profits raises issues with the ethics of its association with Trade Unions

What to do with the proceeds of successful enterprise?

1966 — A successful solution found

TUUT Charitable Trust is launched so management profits are distributed to charities and needy causes.

1967 — The Trust widens its net

Investments now available to individual trade unionist as well as trade union bodies

Mid '70s — Trade Unions have invested over £20m since launch

By now there were over sixty unions, or sections of unions, in the scheme as well as several hundred individual trade unionists.

1980-81 — UK Economy struggles

A high bank rate fed the depression as Thatcher's economic "shakeout" spread across the land.

1985 — War and Peace as economy recovers

The Falklands war was followed by an economic boom which saw the value of investments rise to over £40m

1986 — Important Ethical investment decision

The Board takes the crucial decision to stop investing in any British company with financial interests in South Africa.

1988 — Launch of new Personal Equity Plans offers new opportunities

Trade Unions Unit Trust re branded as TU British Trust. This allows us to market to customers outside the movement without alienating trade union members.

1993 — A new Unit Trust Launch - TU European Trust

TU European Trust becomes our flagship fund as it becomes top performer in prestigious performance awards table in 1998.

1999 — TU Income Trust Launch

April 1999, TU's third trust is launched and offers another investment opportunity.

2000 — A new millennium. A new investment management team

The merger of Hill Samuel with Scottish Widows and subsequent departure from Scottish Widows of all investment managers working for TUFM, led to the Board's decision to move its funds to Rothschild Asset Management.

2001 — Difficult times ahead

Worldwide economic gloom.

On 11th September 2001, so early in the new century, the world was turned almost upside down. The horror of 9/11 and the immediate human and political consequences are already extensively recorded.

2003 — Appointed investment manager merges

March 2003 saw the acquisition of Rothschild Asset Management by Insight Investment Management, part of the Halifax and Bank of Scotland Group.

Continuity is maintained as TU's investment team transfers to the new operation.

2005 — Cash Management Opportunities Unveiled

Volatile equity markets boost the attractiveness of cash management solutions for unions. TU enters partnership arrangement with Insight offering Liquidity Fund Management opportunities to unions.

2006 — A difficult decision is reached

As equity income funds lose their appeal, the decision is taken to close TU Income Trust. Our new Cash Management Service offers a viable and attractive alternative to income seeking union clients.

2007 — No one gives more

The TUUT Charitable Trust continues its generous donations to a range of worthy causes.

2008 — Global Financial markets in turmoil

Global market turmoil leaves all economies struggling with recession. The UK banking system receives major cash injections by UK government but for many this is not enough.

Lloyds TSB merges with the Halifax and Bank of Scotland to form the Lloyds Banking Group.

2009 — The Launch of TU Additions

TU Additions, classified as an "Advisor and Arranger of Wholesale Funds" is launched.

Lloyds sells Insight forcing the Board of TUFM to review investment management arrangements. Scottish Widows Investment Partnership (SWIP) is appointed as new investment managers. A new partnership arrangement with SWIP gives TU Additions exclusive marketing capabilities of the SWIP product range including Multi-Management Solutions.