Dunedin Income Growth Investment Trust PLC
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Investor Warning

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NMPI Status

The Company currently conducts its affairs so that securities issued by Dunedin Income Growth Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.

The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.

 

Pre-investment Disclosure Document (PIDD)

The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of Dunedin Income Growth Investment Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.

The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.

Read the PIDD for Dunedin Income Growth Investment Trust

 
 

Morningstar Ratings

Analyst Rating

Morningstar bronze award

Fund Rating

 
 

Risk Warning

The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.

Read the detailed Risk Warning
 

Past Performance

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 

Daily Data

At close 29-Jan-2015

Ord
Price270.88p
NAV*275.70p
NAV**279.91p
Prem/-Disc*-1.75%
Prem/-Disc**-3.23%
Net Dividend Yield4.10%


* Debt at market value
** Debt at par
Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 
 
 

Portfolio Holdings Disclaimer

Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.

 
 

Trust Details

Dunedin Income Growth Investment Trust PLC

Registered Office:
7th Floor
40 Princes Street
Edinburgh
EH2 2BY

Registered in Scotland as an Investment Company Number 881

 

Dunedin Income Growth Investment Trust PLC

Objective

The Company's investment objective is to achieve growth of income and capital from a portfolio invested mainly in companies listed or quoted in the United Kingdom.

 
 

Dunedin Income Growth Investment Trust PLC Half Year Report for the six months ended 31 July 14
Ben Ritchie, Senior Investment Manager

In this webcast Ben Ritchie gives an update on a wide range of subjects including performance, a sector breakdown, the twenty largest investments and an outlook for the Trust.

Click here to listen to the presentation.

 

 

Manager's Monthly Report

December 2014

The FTSE All-Share Index was a little weak in December falling by 1.6% but still ended the year in positive territory with a gain of 1.2% on a total return basis. Oil and other commodity prices continued to fall, at times rapidly. This is impacting many parts of the market, not just the oil and commodity producers but also their suppliers and others in the value chain. Having said that, the decline in oil prices may prove a fillip to other parts of the market, notably consumers. Clearly, then, with its greater exposure to oil and commodity majors, the FTSE 100 Index underperformed the FTSE 250 and SmallCap indices.

GDP growth for the year to the end of the third quarter was revised down by 0.4% to 2.6% whilst the current account deficit increased to 27bn representing 6.0% of GDP, due to lower receipts from foreign direct investment. Furthermore, although the sector continues to expand, the UK Services PMI decreased more than expected. With fuel and transport prices declining, it was no surprise that CPI inflation fell from 1.3% in October to 1.0% in November and will continue to fall. However wage growth increased in the three months to the end of October to 1.6% leading to positive real wage growth. For now, the Monetary Policy Committee continues to leave interest rates unchanged. Overseas, the eurozone experienced deflation for the first time since 2009 increasing the pressure on the European Central Bank to take further measures to stimulate the economy. A form of QE is likely in due course.

In portfolio activity we wrote puts in Ultra Electronics and Inchcape as we continued to seek to build up our positions in these two, good quality businesses and also wrote puts in Weir which had experienced a decline in its share price in reaction to the declining oil price but where we felt the long term prospects remained solid. On the other side we wrote calls in a number of stocks where we felt the strong appreciation in their share prices merited the potential to take profits – these included Prudential, British American Tobacco, Associated British Foods, Roche and Sage.

Perhaps correctly, investors remain concerned about the sudden decline in the oil price and its attendant impacts, particularly the threat of deflationary pressures. Consequently, we expect markets to exhibit continued volatility throughout 2015. Nonetheless, with our eyes firmly set on the medium to long term, we remain committed to investing in high quality, cash generating businesses with strong balance sheets at attractive long term valuations. We believe this course of action should steer us through the difficult and complicated near term investment environment.


Source: Monthly Factsheet Aberdeen Asset Managers Limited