Personal Assets Trust PLC is a United kingdom-based self-managed investment trust. The Company is engaged in the business of investing in equity shares, fixed interest securities and other investments. The Company may also invest in other investment trusts, as a way of gaining exposure to a region or industrial area in which the Company preferred not to invest directly. The Company’s policy is not to invest more than 15% of its gross assets in other investment trusts and other listed investment companies. The Company’s equity portfolio is usually concentrated in a short list of stocks and turnover tends to be low. The Companies wholly owned subsidiary includes Personal Assets Trust Administration Company. Troy Asset Management Limited (Troy), the investment adviser of the Company.