One of Scotland’s leading investment trust analysts, Buchan spent 30 years at Edinburgh-based stockbroker Wood Mackenzie, where his team was consistently voted the UK’s highest-rated for investment trust analysis.

Over his career, he served as a director of numerous investment trusts, including Personal Assets Trust, Aberforth Smaller Companies, Templeton Emerging Markets, The Scottish Investment Trust, Patria Private Equity Trust, JPMorgan American Investment Trust and Shires Income.

From 2001 to 2011, he was a director of the Association of Investment Companies (AIC), serving two years as chairman during which he guided the association through its landmark victory at the European Court of Justice regarding VAT on management fees.

AIC chief executive Richard Stone described him as “a long-standing champion of investment trusts”, while communications director Annabel Brodie-Smith called him “an investment trust legend” whose knowledge and devotion were unrivalled.

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