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Series

Crown Agents for Oversea Governments and Administrations: Four Millbank Unit Trust...

Catalogue reference: CAOG 26

What's it about?

CAOG 26

This series contains papers of the Secretary of Four Millbank Investments Limited.

Full description and record details

Reference

CAOG 26

Title
Crown Agents for Oversea Governments and Administrations: Four Millbank Unit Trust Fund Managers Limited and Four Millbank Investments Limited: Company Secretary's Files (4MI Series)
Date

1963-1975

Description

This series contains papers of the Secretary of Four Millbank Investments Limited.

Related material

Other Company files can be found in CAOG 21

Held by
The National Archives, Kew
Former department reference

4MI

Legal status

Public Record(s)

Language

English

Creator(s)
  • Crown Agents for Oversea Governments & Administrations, Four Millbank Unit Trust Fund Mgrs, 1963-1967
  • Crown Agents for Oversea Governments and Administrations, Four Millbank Investments Ltd, 1967-1975
Physical description

3 file(s)

Access conditions

Subject to 30 year closure

Immediate source of acquisition

From 2003 Crown Agents for Oversea Governments and Administrations

Subjects
Topics
International
Custodial history

The records in this series are the remains of a larger collection of 4MI series files retrieved with other records from the Crown Agents' Millbank offices when the organisation moved to Sutton. The records were stored and later reviewed by the PRO.

Accumulation dates

File series ran from 1963

Selection and destruction information

Selected under acquisition policy criterion 2.2.1.2, documenting the management of the Company in the period leading up to the Crown Agents' financial crisis. Series will not excede 1m in total.

Administrative / biographical background

Four Millbank Unit Trust Fund Managers Limited, a company limited by shares, was incorporated in December 1963, to act as a manager for unit trust schemes constituted by the Crown Agents (in particular the Four Millbank Unit Trust Fund). The Company's name was amended in 1967 to Four Millbank Investments Limited. Originally, the shares of the Company were held by the Crown Agents, but from 1971 the Company rules were changed to allow shares to be held by another Company, Four Millbank Holdings Limited, and in 1972 the Company was permitted to widen the scope of its activities. This was part of a trend of loose financial control of Crown Agents investment activities at the time which resulted in huge over-exposure in vulnerable markets in the mid-1970s. The financial crisis which followed ended with the UK government financially supporting the Crown Agents, several inquiries into mismanagement in the organisation and its thorough re-structuring. Most of these inquiries focused on the work and practices of Four Millbank Investments Limited.

Record URL
https://beta.nationalarchives.gov.uk/catalogue/id/C15999/

Catalogue hierarchy

Over 27 million records

This record is held at The National Archives, Kew

3,345 records

Within the department: CAOG

Records created or inherited by the Crown Agents for Oversea Governments and Administrations

You are currently looking at the series: CAOG 26

Crown Agents for Oversea Governments and Administrations: Four Millbank Unit Trust Fund Managers Limited and Four Millbank Investments Limited: Company Secretary's Files (4MI Series)

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