This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news, along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcem...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Balanced Commercial Property Trust (ticker: BCPT) was launched in 2005 raising around £735m of equity and £230m of debt to buy a portfolio of around 30 UK commercial properties. Since its IPO, it has been run by Richard Kirby and it is now part of the Columbia Threadneedle stable. After paying a 6.0p per share dividend from 2006 through to 2019, albeit only partly covered by earnings, COVID led to a short-term dip in rents received so the payout was cut by more than half to 2.85p in 2020. As rental collection recovered, the dividend rose to 4.25p in 2021 and then 4.7p in 2022, being fully cove...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
The Federal Reserve, the Bank England and the European Central Bank have all held their interest rates this week and given out the same message that it is too early to be thinking about interest rate reductions. The equity and bond markets have decided that it is not, responding positively to a growing belief that the current rate-hiking cycle has peaked. Investment trusts are in demand again on this change in sentiment.
Relief rallies all round Having highlighted a potential turning point in my last set of comments, it seems that, having crawled over the wording of the latest central bank an...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news, along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcem...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Brunner Investment Trust (ticker: BUT) was launched in 1927 by the Brunner family and they remain involved today with a 29% stake and a seat on the board. Allianz and its predecessor firms have managed the trust for several decades although there have been a number of changes at the fund manager level in recent years. The current team, led by Christian Schneider and Julian Brown, has been in charge since July 2022. Brunner runs a concentrated portfolio of around 60 stocks looking for quality and growth characteristics combined with reasonable valuations. It is much more UK-weighted than other ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news, along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcem...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Pacific Assets Trust (ticker: PAC) was launched in 1985 raising just £12m. It saw spectacular growth in its early years but its highly-geared strategy proved to be extremely volatile. Since 2010, the trust has been much more conservatively run by Stewart Investors. David Gait has looked after the portfolio since 2010 with Doug Ledingham joining him as co-manager in 2018. PAC has a concentrated portfolio of around 60 sustainability-focused businesses and is built from the bottom up, meaning that its country weightings are very different from its main MSCI Asia ex-Japan benchmark. Currently, it ...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
Some quick thoughts on developments last week. The US equity market is going into third quarter results season and the S&P 500 index has reached a critical point from a technical perspective.
Big picture macro It has been another tough week in the financial markets. The rise in the yield on the US 30-year bond to above 5%, its highest level since the summer of 2007, is an ominous development. While the yields on short-dated Treasuries are largely determined by the Federal Reserve's policy actions, the price of the so-called long bond is influenced more by the views of international marke...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
This is our weekly roundup of investment trust announcements, movers, and forthcoming dividend and ex-dividend dates. The tables with the week's biggest gainers, losers and discount changes, courtesy of Numis Securities, is below the summary of the week's trust news, along with a table from Winterflood showing recent aggregate sector movements. If there are trusts you are interested in, the links in the list of news each day will take you to the relevant London Stock Exchange announcement. The percentage figures in this list show the trust's discount/premium to NAV on the day of the announcem...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
The City Of London Investment Trust (ticker: CTY) was launched in 1891. It has the longest run of consecutive dividend increases across the investment trust sector at 57 years and it has been managed by Job Curtis of Janus Henderson since 1991. Over the last thirty years, CTY's NAV return has been 7.9% a year versus 7.2% for the FTSE All-Share. Most of the trust's portfolio is invested in FTSE 100 firms but an increasing proportion, currently around 15%, is held in overseas companies. CTY uses structural gearing of around 10% and since 2010 has almost always traded at a premium, which has allo...
This is a premium article for our subscribers.
Please log in below to read it, or find out how to join the Money Makers Circle.
© 2026 Money Makers