Trustnet Magazine 95 May 2023 | Page 9

The future of income

“ It is difficult to work out which disruptive tech names will emerge victorious over the long term and which ones will be disrupted themselves ”

Django Davidson Founding partner at Hosking Partners

Nothing to see here Fraser Mackersie , manager of the Unicorn UK Income fund , took a snapshot of the UK income market just before it was shaken by the global financial crisis . It shows that 10 of the 15 highest dividend payers in 2007 maintained their place to the end of last year . The five new entrants could hardly be described as riding the wave of technological advances onto the list : four of them are miners , while the other is a utilities company . Of the five that fell off the list , three were banking casualties of the financial crisis and / or the era of low interest rates that followed , while another was a supermarket ( Tesco ). The identity of the last one is perhaps the most interesting – BT , which at the time would have been regarded as the most likely name on the list to benefit from the transition to a
Issue 95 - May 2023 / 9 /