Dunedin Income Growth Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

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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 27-Feb-2015

Ord
Price266.25p
NAV*276.64p
NAV**280.61p
Prem/-Disc*-3.76%
Prem/-Disc**-5.12%
Net Dividend Yield4.17%


* 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

January 2015

The FTSE All-Share Index rose during January ending the month 2.6% higher on a total return basis. The oil price remained at low levels, relative to recent history, during the month which weighed on oil producers and service providers to the sector. The Basic Materials sector was negatively impacted by lower commodity prices. Elsewhere the market performed well helped in part by the prospective benefits of lower oil prices as well the policy actions of the ECB. From a size perspective, the FTSE 100 Index outperformed both the FTSE 250 and SmallCap Indices over the month.

UK macroeconomic data during January painted a robust picture in the UK. Retail sales for December came in ahead of expectations as did the Manufacturing PMI although Industrial production was a little weaker than expected. The growth rate for the UK in 2014 came in at 2.7% which, despite being slightly below prior expectations, made the UK the fastest growing economy in Western Europe. The Bank of England left interest rates unchanged at 0.5%. The BoE’s inaction during the month contrasted with the Swiss National Bank and the ECB; the Swiss National Bank surprised the market by removing the Swiss franc/euro peg and cutting interest rates by 50 basis points which caused the franc to increase in value by 20% against the euro on the day of the announcement. Later in the month the ECB announced its QE programme in an attempt to avoid the spectre of deflation in the eurozone. The programme will purchase €60bn of euro-denominated investment grade bonds per month until the end of 2016. Outside of these policy moves, the story remains similar with generally uneven growth characterised by strength in the United States offset by weakness in the eurozone together with a gentle slowdown in emerging markets. During the month our activity was limited with the only portfolio change being the introduction of the software company, Aveva which was looking attractively valued given some recent weak trading. The company has leading market positions, leading technology and a strong, net cash balance sheet. We continue to look at writing options to increase the income available to the Company.

The UK equity market has rallied strongly over the past couple of years; however this has been driven not by an increase in earnings but by a rerating of earnings. Although a relatively benign domestic economic environment and subdued commodity prices are likely to be a helpful underlying dynamic, profit growth is likely to remain hard won given the prospect of rising interest rates and growing political uncertainty. While the short term outlook for equity returns may be more difficult, we remain sanguine about the medium to long term opportunities for the companies in the portfolio. We continue to believe that globally competitive businesses with strong balance sheets will prosper over the long term and ultimately offer the best earnings and dividend growth prospects.


Source: Monthly Factsheet Aberdeen Asset Managers Limited