Dunedin Income Growth Investment Trust PLC
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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.

 
 

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.

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Past Performance

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

 
 

Daily Data

At close 16-Apr-2014

Ord
Price271.00p
NAV*267.41p
NAV**272.25p
Prem/-Disc*1.34%
Prem/-Disc**-0.46%
Net Dividend Yield4.10%


* 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 Half Year to 31 July 2013
Ben Ritchie, Senior Investment Manager

In this webcast Ben Ritchie gives an update on the half year to 31 July 2013. Ben covers 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

February 2014

Following a weak start to 2014 markets rebounded in February with the FTSE All-Share Index rising 5.2% on a total return basis, reaching an all-time high. Investors found renewed enthusiasm in low inflation readings across the developed world and reassuring comments by Janet Yellen in her first Congressional testimony as US Federal Reserve chairman, although rising tensions in Ukraine weighed on markets towards month end. Sector performance was mixed with notable weakness in banks where results were generally weaker than expected.

In the UK, CPI inflation fell to 1.9% in January, below the 2% level targeted by the Bank of England for the first time in more than four years supporting the case for interest rates to remain at current low levels for some time to come. Meanwhile the Bank of England upgraded its growth expectations for 2014 to 3.4% and house prices continued to rise amidst ongoing government support through initiatives such as the Help to Buy scheme. Elsewhere, the eurozone reported its strongest PMI data since mid-2011, led by a sharp pick-up in Germany as well as the region’s periphery while eurozone GDP expanded by more than expected in the fourth quarter of 2013. The US continued to recover albeit at a slower pace. Emerging markets remained volatile.

In portfolio activity we exited AMEC on concerns that its recent acquisition increased the cyclicality of the business and weakened the balance sheet. Verizon Communication shares, received by the Trust as part of Vodafone’s capital return following divestment of its stake in Verizon Wireless, were sold. We also added to the position in Standard Chartered on weakness. The option writing programme continued to generate supplemental income for the Trust.

We retain a cautious tone to our outlook despite strong equity market performance in recent times, particularly since corporate earnings have struggled to keep pace. Economies around the world are providing varied signals in terms of their outlook for growth and a number of salient structural issues remain unresolved. We take comfort that companies are, in general, in good shape and that valuations, although not cheap on an absolute basis, look attractive relative to other asset classes. The portfolio retains exposure to a mixture of robust businesses with strong competitive positions and healthy financial characteristics. We continue to believe that these attributes are the best way to ensure attractive earnings and dividend growth over the long term.


Source: Monthly Factsheet Aberdeen Asset Managers Limited