Merchants Trust (ticker: MRCH) is one of the largest and oldest UK equity income funds with around £750m in assets and a history dating back to 1889. It has been managed by Allianz's Simon Gergel since 2006 and after a slow start, he has turned it into one of the better performers in the sector over the last decade with a particularly strong performance over the last two years. Merchants frequently commands a premium rating which has enabled it to increase its share count by around 25% in the last few years. It has a relatively concentrated portfolio of around 50 holdings and typically has a g...
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Scottish American Investment Company (ticker: SAIN), often shortened to SAINTS, is one of the oldest UK-listed investment trusts. It sits in the Global Equity Income sector and has been managed by Baillie Gifford since January 2004. Unlike Baillie Gifford's more growth-focused offerings, SAINTS looks for slightly more mature companies that offer a combination of growth, resilience, and reliable income. Its performance over the last decade has largely matched global markets although it has tended to outperform its more conservative and value-orientated sector rivals. Somewhat unusually, it hold...
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Jonathan Davis We have reached theme of year when pundits routinely bring out the old market adage "Sell in May and go away" (and its corollary: don't come back until the day of the St Leger). There was never much truth in it, to be honest, as it essentially dates back to a long lost era when the City was a more leisurely place. The six month period between May and October has actually produced positive returns for the past nine years. After a strong first four months of the year, however, there may be something in it this year, given that so much good news is already in the price of stocks. ...
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