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-Sep-2014

Ord
Price264.88p
NAV*263.36p
NAV**267.83p
Prem/-Disc*0.58%
Prem/-Disc**-1.10%
Net Dividend Yield4.19%


* 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

August 2014

Following an initial summer lull, equity markets recovered in August with the FTSE All-Share Index rising 2.2% on a total return basis. Despite prevailing geopolitical risks given the situation in Ukraine and the Middle East and disappointing economic data from the eurozone, investors chose instead to focus on expectations for further monetary easing from the ECB and delayed tightening by the Bank of England. Pharmaceuticals and chemicals performed strongly while mining and food retail sectors lagged. Mid-cap companies outperformed during the month; however large-caps remain the best performing size group year-to-date.

Domestic economic momentum remained robust. As expected, a minority of Monetary Policy Committee members voted to begin to raise interest rates. However in its August Inflation Report, the MPC judged the degree of so-called spare capacity in the economy to be higher than previously thought, thereby making rate rises less likely in the near term. Elsewhere, major economies exhibited mixed trends. Data from the eurozone showed stagnation across the region in the second quarter, including core countries such as Germany. Business and consumer sentiment also appeared to be impacted by economic sanctions on Russia. Amidst declining inflation expectations, the ECB signalled intentions to take further action which materialised post month end with the announcement of rate cuts and an asset purchase scheme. Such measures stopped short of full-scale quantitative easing which many believe is an eventual necessity to counteract the threat of deflation. The Japanese economy contracted at its fastest pace since 2009 due in part to a new sales tax, whereas in contrast the US economy continued to strengthen.

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, a situation underpinned by accommodative monetary policy across the developed world. Indeed it seems as though markets remain driven by actions of central banks more so than underlying corporate and economic fundamentals. While the global economy on the whole continues to gain momentum, growth is uneven, which looks set to result in diverging monetary policy stances in the coming years. 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 particularly given the renewed decline in bond yields. 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