Dunedin Income Growth Investment Trust PLC

Targeting growth of income and capital from a portfolio invested mainly in UK companies that meet the Company's Sustainable and Responsible investing criteria

Morningstar sustainability rating:   sustainability rating

Daily prices as of 17 Aug 2022

Share Price 297.75p

Estimated NAV cum income 301.33p

Estimated NAV ex income 297.01p

Dividend Yield 4.3%

Premium / (Discount) to NAV cum income 0.2%

Premium / (Discount) to NAV ex income 1.7%

Source: Morningstar

About us

Find out more about our investment objective, approach, portfolio and performance.

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Online Shareholder Presentation

In advance of the AGM, the Board held an interactive online presentation on Monday 16th May 2022 at 10am. Attendees received updates from the Chairman and managers Ben Ritchie and Samantha Brownlee, followed by a question and answer session. A recording of the presentation will shortly be available to watch on demand below.

The annual report for the year ended 31 January 2022 is now available to download in the 'key literature' section below.

Watch on demand now > 

Latest news

An update from our investment manager, Ben Ritchie - 26 May 2022

We retain the cautious outlook that we have had for some time. Inflation is elevated and rates of economic growth are slowing globally, and are likely to slip further as confidence is impacted, particularly in Europe. At the same time, central banks are increasingly focussed on tightening policy, while government balance sheets remain fairly stretched. Corporate profits are starting to be challenged by supply chain disruptions, higher costs and now having to cope with slowing demand making it more challenging to pass on price increases. This makes for a complex environment to navigate. Overall we remain happy to keep a balance to our positioning giving ourselves the potential to perform in a range of market environments. Our attention remains on seeking to protect capital, but we are increasingly looking to participate in opportunities where we believe share prices in good companies with attractive long-term prospects have been oversold and at the same time focus on the companies that meet our sustainable and responsible investing criteria.

An enhanced ESG approach

The Board believes that companies that best manage Environmental Social and Governance (ESG) risks and opportunities will provide investors with superior risk adjusted returns.

Accordingly, with the support of shareholders, the Company has adopted an enhanced ESG approach consistent with the existing strategic objectives of the Company.

Why Dunedin Income Growth Investment Trust?

Uniquely positioned in the UK Equity Income sector with a differentiated, selective strategy looking to deliver growth in capital and income by investing in the best companies in the UK and Europe, whilst also meeting our sustainable and responsible investing criteria.

A high conviction portfolio of around 40 stocks with an emphasis on balancing dividend yield with growth and sustainability.

Managed by one of the best resourced UK Equity teams, alongside a proven income track record having grown or maintained the dividend for 39 years.

*This is third-party research. You will leave Dunedin Income Growth’s website and enter Kepler’s to view.

Key people

Ben Ritchie

Ben Ritchie

Head of European Equities

Ben Ritchie is Head of European Equities at abrdn and originally joined the company in 2002 as a graduate. Ben graduated with a BA (Hons) in Modern History and Politics from Pembroke College, University of Oxford and is a CFA Charterholder and an alumnus of Harvard Business School.

Samantha Brownlee

Samantha Brownlee

Investment Director

Samantha Brownlee is an Investment Director on the UK Equity team at abrdn. In this role, Samantha analyses current and prospective investments and assists with the management of client portfolios. Samantha joined abrdn in 2008 as a Graduate Business Analyst and worked with the Pan European Equity team until her transfer to the North American Equity desk in April 2014. In December 2020 she transferred to the UK Equity desk. Samantha received a Bachelor of Laws and an MA in Archaeology from The University of Edinburgh. She is a CFA charterholder.

Rebecca Maclean

Rebecca Maclean

Investment Director

Rebecca Maclean is an Investment Director in the UK Equities team at abrdn. Rebecca has worked in the responsible investment industry since 2010, joined abrdn in 2013 as a Responsible Investment Analyst and moved to the UK Equities team in 2016. Rebecca graduated with a BA in Experimental Psychology from University of Oxford, holds a MA in International Relations from King's College London, and is a CFA Charterholder.

  • Ben Ritchie

    Ben Ritchie

    Head of European Equities

    Ben Ritchie is Head of European Equities at abrdn and originally joined the company in 2002 as a graduate. Ben graduated with a BA (Hons) in Modern History and Politics from Pembroke College, University of Oxford and is a CFA Charterholder and an alumnus of Harvard Business School.

  • Samantha Brownlee

    Samantha Brownlee

    Investment Director

    Samantha Brownlee is an Investment Director on the UK Equity team at abrdn. In this role, Samantha analyses current and prospective investments and assists with the management of client portfolios. Samantha joined abrdn in 2008 as a Graduate Business Analyst and worked with the Pan European Equity team until her transfer to the North American Equity desk in April 2014. In December 2020 she transferred to the UK Equity desk. Samantha received a Bachelor of Laws and an MA in Archaeology from The University of Edinburgh. She is a CFA charterholder.

  • Rebecca Maclean

    Rebecca Maclean

    Investment Director

    Rebecca Maclean is an Investment Director in the UK Equities team at abrdn. Rebecca has worked in the responsible investment industry since 2010, joined abrdn in 2013 as a Responsible Investment Analyst and moved to the UK Equities team in 2016. Rebecca graduated with a BA in Experimental Psychology from University of Oxford, holds a MA in International Relations from King's College London, and is a CFA Charterholder.

David Barron

David Barron

Chairman

David Barron is a Chartered Accountant. He was, until November 2019, Chief Executive of Miton Group plc and is currently a non-executive director of Premier Miton Group PLC. He was, until 2013, Head of Investment Trusts at JP Morgan Asset Management and, until 2014, a director of The Association of Investment Companies. He is also a non-executive director of BlackRock Sustainable American Income Trust plc and Fidelity Japan Trust PLC.

Jasper Judd

Jasper Judd

Non-Executive Director

Jasper Judd is a Chartered Accountant. Until 2012, he worked for Brambles Limited, a listed Australian multinational, where he held a number of senior executive roles including Global Head of Strategy. He is also a non-executive director of JP Morgan Indian Investment Trust plc.
He is Chairman of the Audit Committee.

Christine Montgomery

Christine Montgomery

Non-Executive Director

Christine Montgomery has over 30 years of investment management experience, most recently as Head of Global Equities at AustralianSuper in Melbourne from 2016 to 2019. She previously held roles as a global equities portfolio manager at Fidelity Worldwide Investments, Martin Currie and Edinburgh Partners. She is also a non-executive director of The Scottish American Investment Company PLC and True Potential Administration LLP.

Howard Williams

Howard Williams

Non-Executive Director

Howard Williams has over 35 years’ of fund management experience and was, until October 2017, Chief Investment Officer and Head of the Global Equity Team at JPMorgan Asset Management. Prior to joining JPMorgan Asset Management in 1994, he held a number of senior positions at Shell Pensions and Kleinwort Benson Asset Management. He started his career at James Capel & Co. He is also a non-executive director of Schroders Unit Trust Limited and Lifesight Limited. He is the Senior Independent Director.

Gay Collins

Gay Collins

Non-Executive Director

Gay Collins has over 35 years of experience in the financial services sector and has founded and grown three PR companies, Montfort Communications, Penrose Financial (which became MHP) and Ludgate Communications, and has an executive role at Montfort where she advises financial services companies on communications. She is also a director of the Association of Investment Companies and JPMorgan Global Growth & Income plc.

  • David Barron

    David Barron

    Chairman

    David Barron is a Chartered Accountant. He was, until November 2019, Chief Executive of Miton Group plc and is currently a non-executive director of Premier Miton Group PLC. He was, until 2013, Head of Investment Trusts at JP Morgan Asset Management and, until 2014, a director of The Association of Investment Companies. He is also a non-executive director of BlackRock Sustainable American Income Trust plc and Fidelity Japan Trust PLC.

  • Jasper Judd

    Jasper Judd

    Non-Executive Director

    Jasper Judd is a Chartered Accountant. Until 2012, he worked for Brambles Limited, a listed Australian multinational, where he held a number of senior executive roles including Global Head of Strategy. He is also a non-executive director of JP Morgan Indian Investment Trust plc.
    He is Chairman of the Audit Committee.

  • Christine Montgomery

    Christine Montgomery

    Non-Executive Director

    Christine Montgomery has over 30 years of investment management experience, most recently as Head of Global Equities at AustralianSuper in Melbourne from 2016 to 2019. She previously held roles as a global equities portfolio manager at Fidelity Worldwide Investments, Martin Currie and Edinburgh Partners. She is also a non-executive director of The Scottish American Investment Company PLC and True Potential Administration LLP.

  • Howard Williams

    Howard Williams

    Non-Executive Director

    Howard Williams has over 35 years’ of fund management experience and was, until October 2017, Chief Investment Officer and Head of the Global Equity Team at JPMorgan Asset Management. Prior to joining JPMorgan Asset Management in 1994, he held a number of senior positions at Shell Pensions and Kleinwort Benson Asset Management. He started his career at James Capel & Co. He is also a non-executive director of Schroders Unit Trust Limited and Lifesight Limited. He is the Senior Independent Director.

  • Gay Collins

    Gay Collins

    Non-Executive Director

    Gay Collins has over 35 years of experience in the financial services sector and has founded and grown three PR companies, Montfort Communications, Penrose Financial (which became MHP) and Ludgate Communications, and has an executive role at Montfort where she advises financial services companies on communications. She is also a director of the Association of Investment Companies and JPMorgan Global Growth & Income plc.

 

Financial calendar

Year End 31 January
Accounts Published March
Annual General Meeting May
Dividend Paid August, November, February, May

Trust details

Dunedin Income Growth Investment Trust PLC

Registered Office:
1 George Street,
Edinburgh
EH2 2LL

Registered in Scotland as an Investment Company Number SC881

Launch Date: February 1873

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.