Data is at market close and rounded to 2 decimal places.

91.40p
Share price
As at 05.12.2019
92.52p
NAV per share
As at 05.12.2019
Premium (Discount)
None
£357.7m
Total net assets
As at 05.12.2019
4.25%
Historic net yield*
Share class
Fact sheet
  • Investment approach
  • Risks

The Company invests primarily in quoted or traded UK companies with a wide range of market capitalisations, but a long-term bias toward small and medium sized companies. The Company may also invest in large companies, including FTSE 100 Index constituents, where it is believed that this may increase shareholder value.

The stock selection process uses a ‘traffic-light’ process to identify companies that are able to grow their dividends on a sustainable basis:

  • Are there prospects for rising turnover?
  • Can margins be sustained?
  • Does the management team make decisions we feel will build real intrinsic value?
  • How much financial flexibility is there in the balance sheet?
  • Are there low expectations in the share price?

The Managers adopt a stock specific approach in managing the Company’s portfolio and therefore the amount apportioned to a particular industry sector is of secondary consideration. As a result of this approach, the Company’s portfolio does not track any index.

Any use of derivatives for investment purposes will be made on the basis of the same principles of risk spreading and diversification that apply to the Company’s direct investments.

*Yield refers to the dividends received by a holder of company shares. The historic yield reflects distributions paid over the last 12 months as a percentage of their mid-market price as at the date shown.

The material within these webpages is not a recommendation to buy or sell any of the investments referred to herein. Miton does not give financial advice. If you are unsure as to the suitability of the investments mentioned please contact a financial adviser. The value of investments can fall as well as rise and you may not get back the original amount invested. Please see the Risks section above for a list of all associated risks.
  • The value of investments can fall as well as rise and investors may not get back the full amount invested.
  • Past distributions of dividends are not a guide to future distributions.
  • The Company may borrow money which can then be used to make further investments (gearing). In a rising market, this ‘gearing’ can magnify the gains or in a falling market, the losses on your investment.
  • The Trust does not use derivatives extensively, although it may use them in an attempt to reduce risk, reduce costs and to generate additional income. Investing in derivatives carries the risk of reduced liquidity, substantial loss and increased volatility in adverse market conditions. Derivatives may expose the Trust to credit risks of counterparties, who may not meet payment obligations. The use of derivatives may result in the trust being leveraged (where economic exposure and thus the potential for loss by the trust exceeds the amount it has invested) and in these market conditions the effect of leverage will magnify losses.
  • Forecasts are not reliable indicators of future performance.

Awards & ratings

Trust objective

To provide shareholders with an attractive and growing level of dividends coupled with capital growth over the long term.

Gervais Williams
Trust manager
Martin Turner
Trust manager

Latest price

91.40p
Share price
As at 05.12.2019
92.52p
NAV per share
As at 05.12.2019
Premium (Discount)
None
£357.7m
Total net assets
As at 05.12.2019
4.25%
Historic net yield*
Share class

Trust facts

Launch date 28 April 2011
Morningstar sector IT UK Equity Income
Benchmark None
No. of shares in issue 378,289,047
Gearing up to 15%
Redemption facility The Company has a redemption facility through which Shareholders will be entitled to request the redemption of all or part of their holding of Ordinary Shares on an annual basis.

Trust facts

Value-Prim.SC. Curr.
Total net assets £353.3m
Historic net yield* 4.25%
Launch date 28 April 2011
Morningstar sector IT UK Equity Income
Benchmark None
No. of shares in issue 378,289,047
Gearing up to 15%
Redemption facility The Company has a redemption facility through which Shareholders will be entitled to request the redemption of all or part of their holding of Ordinary Shares on an annual basis.

Awards & ratings

Past performance is not a guide to future returns.

FE fundinfo Crown Fund Ratings do not constitute investment advice offered by FE fundinfo and should not be used as the sole basis for making any investment decision. All rights reserved.