We are investors, not traders, driven by fundamentals, not trends. We think in decades, not quarters and invest time to make confident, well-balanced compounding investments and build rewarding partnerships.
Caledonia is a FTSE 250 self-managed investment trust with a long track record of delivering consistent returns and progressive annual dividend payments to shareholders.
Highlights
Our long-standing philosophy of investing in high-quality, well-managed companies, with a truly long-term view, continues to serve us well.
All figures as at 31 March 2026.
£3.0bn
Net asset value (NAV)
5.4%
NAV per share total return
7.68p
Dividend per share
4.4%
Dividend growth
59yrs
Consecutive dividend growth
9.2%
Annualised NAVTR over 10 years
A message from our Chief Executive Officer
While having a high-quality portfolio matters, it is nothing without the quality of the people behind it. It is important to surround yourself with great people — the teams we back and my colleagues at Caledonia.
Mat Masters
Chief Executive Officer
Investments built to last
To ensure that we maintain a well-balanced, diversified portfolio, each of our investment pools has a strategic allocation range. At 31 March 2026, all of our investment pools were within their strategic allocation ranges.
As at 31 March 2026
32%
32%
32%
How we create value
We invest in proven, well-managed businesses that combine
long-term growth characteristics with an ability to deliver
increasing levels of income.
What sets us apart?
A unique set of strengths underpin our ability to execute and deliver on our investment model. Key to this is our deep expertise, disciplined approach and long-term perspective.
Expert team
Long-term approach
Strong balance sheet
Investment process
Risk mitigation
Reputation and network
What’s our approach?
We focus on identifying businesses and fund managers that meet three essential criteria. These principles are applied consistently across all three of our investment pools, reinforcing our disciplined, high-conviction approach and building portfolios designed to deliver resilient, long-term returns.
How do we invest?
Our disciplined investment process is designed to identify attractive opportunities, allocate capital thoughtfully and manage risk actively over the long term. Every investment is assessed rigorously, with oversight from our central Investment Committee.
Who benefits?
By combining our balance sheet and disciplined investment process across our three pools of capital, we target positive returns for all of our stakeholders.
Our shareholders
Our portfolio companies and funds
Our people
Our communities
Our suppliers
Investment review
We invest across listed and private markets, spanning multiple sectors, to build a well-diversified portfolio with global reach.
Mat MastersChief Executive Officer
Sustainability
Exploring how we manage our business, acting responsibly for our employees and wider stakeholders, and how we, as an investment company, approach our investment decisions responsibly, managing our investment portfolio both for today and the future.
