Trust
FACT BOX
MANAGER : Simon Gergel / LAUNCHED : 06 / 02 / 1889 / PREMIUM / DISCOUNT : + 1.8 % / OCF : 0.59 %
CROWN RATING
In the meantime , he said he is taking advantage of cheap valuations , positioning his portfolio around six long-term themes : nutrition & wellbeing , wealth accumulation , sustainable living , normalisation of interest rates , driving the energy transition and the digital economy . The manager is using the current economic uncertainty to target lowly valued cyclicals with strong balance sheets and competitive advantages that help them navigate difficult periods . However , he has also added some defensive stocks that are less correlated to the economic cycle . Numis said the trust ’ s dividend , which it has increased for 40 years in a row , is fully covered .
Performance of trust vs sector and index over 10yrs
Merchants Trust ( 128.4 %)
FTSE All Share ( 75.9 %)
IT UK Equity Income ( 75.2 %)
140 % |
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120 % |
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100 % |
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80 % |
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60 % |
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40 % |
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20 % |
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0 % |
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-20 % |
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Apr13 |
Apr14 |
Apr15 |
Apr16 |
Apr17 |
Apr18 |
Apr19 |
Apr210 |
Apr21 |
Apr22 |
Source : FE Analytics
Issue 94 - April 2023 / 47 /