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 30-Jul-2014

Ord
Price273.00p
NAV*270.06p
NAV**274.49p
Prem/-Disc*1.09%
Prem/-Disc**-0.54%
Net Dividend Yield4.07%


* 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

June 2014

In June the FTSE All-Share Index reversed much of its prior month gains falling 1.3% on a total return basis. Investors became concerned about the prospect of UK interest rate rises commencing sooner than expected while geopolitical risks in Iraq also impacted. Defensive sectors such as pharmaceuticals and oil and gas outperformed whereas banks lagged. Mid-sized companies underperformed their larger counterparts.

Domestic economic data remained strong. Although the services PMI fell to a three-month low, the reading remained well above long-run averages, while manufacturing and construction surveys continued to rise indicative of a more balanced economic expansion. Cumulatively, such data in the second quarter is consistent with GDP growth of over 1% on a quarterly basis. While the Monetary Policy Committee left interest rates on hold, the Bank of England’s Governor hinted that the risk of hikes in 2014 was bigger than markets expected. Elsewhere, in the eurozone the ECB announced several measures to tackle low inflation and stimulate lacklustre growth. In the US the first quarter reading of GDP was worse than expected due to bad weather but pointed to a second quarter rebound.

It was a particularly 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 as earnings have struggled to keep pace with market performance. 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