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 26-Aug-2014

Ord
Price269.75p
NAV*271.82p
NAV**276.46p
Prem/-Disc*-0.76%
Prem/-Disc**-2.43%
Net Dividend Yield4.11%


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

 
 
 
 
 

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 Annual Report for the year ended 31 Jan 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

July 2014

The FTSE All-Share Index was broadly flat in July falling 0.3% on a total return basis. Investors had mixed interpretations of better economic data in the US and the UK due to the implication that monetary policy tightening may begin sooner than previously expected, while geopolitical risks in Iraq and Russia continued to weigh on risk appetite. Market volatility increased. Banks and mining companies outperformed reflecting rosier economic data and mid-sized companies underperformed their larger counterparts as has been the case since the start of the year.

In the UK, the preliminary reading of second quarter GDP showed the economy had grown 3.1% on an annualised basis, thereby recovering to pre-recessionary levels. PMI data suggested July was another strong month. Meanwhile unemployment fell further and inflation stayed low, aided by stronger sterling. Again the Bank of England kept interest rates at their historic low of 0.5% and made no changes to its asset purchase programme, albeit amid increasing speculation that members of the Monetary Policy Committee will start voting for a rise soon. Elsewhere, there was evidence of slowing growth in Germany and Italy fell back into recession in the second quarter, underlying the fragility of the eurozone recovery. In contrast the US economy rebounded, growing by an annualised 4%, with rising business and consumer indicators suggesting cause for sustained optimism.

It was another quiet month for trading. No trades were conducted albeit the option writing programme continued to generate supplemental income for the Trust.

Equity valuations are towards the upper end of historic ranges. Corporate performance in the recent reporting season has generally been respectable and although the macroeconomic environment appears increasingly supportive, it is worth remembering that to a large extent this is underpinned by accommodative monetary policy in the developed world and that many developing markets have entered a less assured period of growth. We find comfort in balance sheets which are in good health and valuations, despite being stretched in some areas of the equity market, which remain attractive compared to other asset classes. Against very strong market conditions we will struggle to keep up in the year ahead. However, we believe that our focus on good quality businesses with strong balance sheets, excellent management teams and the capacity to pay and grow dividends should continue to deliver good returns and real dividend growth to our investors over the long-term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited