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 WarningPast Performance
Past performance is no guide to future performance.
See latest monthly factsheet below for performance history.
Daily Data
At close 21-Feb-2012
Ord| Price | 221.00p |
| NAV* | 223.34p |
| NAV** | 228.24p |
| Prem/-Disc* | -1.05% |
| Prem/-Disc** | -3.17% |
| Net Dividend Yield | 4.64% |
Source: Morningstar
* Debt at market value
** Debt at par
NAV = Net Asset Value
Literature
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.
Manager's Monthly Report
February 2012
Equity markets began 2012 strongly with the FTSE All-Share Index rising 2.7% on a total return basis. A new year brought fresh optimism following liquidity injections from the European Central Bank at the end of 2011, improving macroeconomic data in the US and receding fears of a Chinese slowdown. In the context of increased risk appetite it was unsurprising to see cyclical sectors of the market such as banks and mining outperform, whilst defensive sectors lagged.
Despite the broader market rally, there were few positives to be found in domestic economic data. Fourth quarter GDP contracted 0.2% quarter-on-quarter fuelling fears that we may be amidst a renewed recession. Interest rates and the asset purchase programme were again left unchanged as inflationary pressures abated further and unemployment reached 8.4% – the highest rate since January 1996. In Europe, a cumulative €489bn take-up of the European Central Bank’s three year Long Term Refinance Operation by the banking sector resulted in sovereign bond yields dropping from recent highs. Regardless, nine eurozone countries saw their credit ratings downgraded by S&P during the month and economic data was generally weak. In contrast, the world’s largest economy saw unemployment fall and growth improve towards year end. Yet the US Federal Reserve still saw fit to extend its commitment to near-zero interest rates until late 2014.
In portfolio activity, we introduced Croda, a niche provider of high margin chemical products to a diverse range of industries. Conversely, we exited Mothercare given tougher trading conditions in its UK business, which have undermined the company’s capacity to pay dividends. Share price weakness in Tesco following a somewhat disappointing trading update was used to add to the position. We wrote puts against positions in Pearson, Unilever, Roche, Standard Chartered and calls on Close Brothers where we would be happy to see the weight reduced.
Source: Monthly Factsheet Aberdeen Asset Managers Limited