Fact sheet: Bankers IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
GLOBAL EQUITY INCOME
Sector
IT Global
Fund type
Investment Trust
Primary aim
GROWTH
Why Money Observer Rates Bankers IT

Rated Fund 2013-2017. A trust with a 50-year income growth record

Bankers previously appeared in our global growth asset group, but this year we have decided to switch it into the global equity income category to reflect its impressive record of dividend income increases.

Although its managers' aim is to achieve a good total return and its yield is a relatively modest 2.3 per cent, Bankers, one of the UK's oldest investment trusts, has one of the longest records for consecutive annual dividend increases which it has now maintained for 50 years. It also aims for dividend growth above the increase of the Retail Prices Index.

Bankers has separate regional portfolios covering the UK, Europe ex UK, North America, Japan, Asia Pacific ex Japan, China and emerging markets, managed by regional specialists. It has a very well diversified portfolio with nearly 200 holdings. Alex Crooke, the lead manager, is responsible for deciding how much to invest in different markets.

Crooke takes a keen interest in global developments and how government policies are shaping the fortunes of different regions, in order to decide how to balance the trust. He also runs the UK segment, which has been cut to under 30 per cent of the portfolio in recent years.

A similar proportion is invested in North America. Following the reduction in the UK element, Bankers' exposure to Europe and Japan was increased. They now account for 14 and 12 per cent of the portfolio respectively.

3 Year Performance
Fund Performance52.8%
Average of Rated Funds Group41.8%
Sector Performance53.6%
Fund information
Fund name
The Bankers Investment Trust Ord
Fund manager company
Henderson Global Investors Ltd
Fund type
Investment Trust
Fund managers
  • Alex Crookesince 31/05/2003
Accolades
Fund objective
The Bankers Investment Trust seeks to maximise returns for shareholders through a broadly diversified international portfolio. The trust aims to deliver capital growth in excess of the FTSE All-Share Index, and regular dividend growth that exceeds the rise in the Retail Prices Index (RPI).
Benchmark
  • FTSE All Share
Investment style
Active
Investment method
Shares
Quick stats
1 Year return
17.7%
1 Year rank in sector
7/22
Sector
IT Global
Yield
2.1%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
0.44%
Fund size
£0m
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
114
Mid price
869
NAV
?Net asset value. The NAV per share may be higher or lower than the share price, which in turn is trading at either a discount or a premium to NAV.
863.5
Discount/Premium
?When the market price of an investment trust’s shares is less than the net asset value (NAV) per share then it is trading at a discount to NAV. A trust’s shares are on a premium when they trade at a higher price than the NAV.
+0.64
Gearing
?Investment trusts have the ability to borrow money which they invest with the aim of generating a higher return than the cost of the loan. An ungeared trust has a figure of 100. A figure of 110 would represent a trust with 10% gearing.
105
Top in this sector
Fund name1 Year
Independent Investment Trust69.2%
Edinburgh Ww IT PLC43.1%
Sct Mtg IT PLC31.4%
Monks IT PLC28.4%
Lazard World Trust22.4%
...more in IT Global

Performance snapshot

Holdings snapshot

  • UK26.5%
    North America26.2%
    Asia Pacific16.7%
    Europe16.4%
    Japan11.4%
  • Financials23.5%
    Consumer Goods21.5%
    Industrials15.8%
    Technology11.9%
    Consumer Services11.5%
  • UK Equities26.5%
    North American Equities26.2%
    Asia Pacific Equities16.7%
    European Equities16.4%
    Japanese Equities11.4%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-4%1.3%6.7%17.7%52.8%93.1%
Sector-3.6%0.8%5.9%16.2%53.6%87.7%
Rank within sector11 / 226 / 229 / 227 / 229 / 2211 / 22
Quartile2nd2nd2nd2nd2nd2nd
Calendar performance
 YTD - 20182017201620152014
Fund-0.8%28.9%14%10.7%2.8%
Sector-1.2%23.5%21.1%6.8%7.4%
Rank within sector7 / 227 / 2215 / 229 / 2221 / 22
Quartile2nd2nd3rd2nd4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-3.13
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
1.24
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
1.12
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
12.11
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
6.32
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.04
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.75
Price movement
52 week high923
52 week low733.5
Current bid price869
Current offer price871
Current mid price869
Region
1UK26.5%
2North America26.2%
3Asia Pacific16.7%
4Europe16.4%
5Japan11.4%
6Global Emerging Markets2.8%
Industry sector
1Financials23.48%
2Consumer Goods21.45%
3Industrials15.79%
4Technology11.92%
5Consumer Services11.48%
6Health Care5.69%
7Oil & Gas4.89%
8Basic Materials3.56%
9Telecommunications3.37%
Asset type
1UK Equities26.5%
2North American Equities26.2%
3Asia Pacific Equities16.7%
4European Equities16.4%
5Japanese Equities11.4%
6Global Emerging Market Equities2.8%
Individual holdings
1BP PLC1.8%
2APPLE INC1.6%
3BRITISH AMERICAN TOBACCO PLC1.6%
4AMERICAN EXPRESS CO1.5%
5MICROSOFT CORP1.4%
6ALPHABET INC1.3%
7COMCAST CORP(NEW)1.3%
8FED EX1.3%
9ROYAL DUTCH SHELL1.3%
Management
Fund manager group
Janus Henderson Investors
Fund manager company
Henderson Global Investors Ltd
Fund type
Investment Trust
Fund objective
The Bankers Investment Trust seeks to maximise returns for shareholders through a broadly diversified international portfolio. The trust aims to deliver capital growth in excess of the FTSE All-Share Index, and regular dividend growth that exceeds the rise in the Retail Prices Index (RPI).
Benchmark
  • FTSE All Share
Investment style
Active
Investment method
Shares
Fund managers
NameSinceBiography
Alex Crooke31/05/2003Alex Crooke is Head of Global Equity Income at Janus Henderson Investors, a position he has held as part of the Henderson team since 2013 when he was appointed to this role bringing together all equity-focused income teams within Henderson. Alex was recruited by Henderson to co-manage the UK assets of an investment trust in 1994 as an associate director. He later became the Fund Manager responsible for a number of UK and European income orientated equity products. He manages several products at Janus Henderson and currently serves as a Portfolio Manager for the Global Equity Income and Global Dividend & Income strategies. Alex began his investment career with Equitable Life Assurance Society in 1990 as a U.S. investment analyst. Alex holds a BSc (Hons) in physics and astrophysics from Manchester University and is an associate member of the Society of Investment Professionals. He has 27 years of financial industry experience. Henderson Global Investors merged with Janus Capital Group in May 2017.
Compliance
AIC Member
Domicile
No data available.
Fund for sale in
United Kingdom
The Bankers Investment Trust NAV
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price863.4
CurrencyGBX
Price updated16/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeTU12
The Bankers Investment Trust Ord
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price863.5
CurrencyGBX
Price updated16/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeNJET
Data provided by

The Content is only for your general information and use and is not intended to address your particular requirements. The Content does not constitute any form of advice, recommendation or arrangement by Money Observer and is not intended to be relied upon by you in making (or refraining from making) any specific investment or other decisions. Appropriate independent advice should be obtained before making any such decision.

This information is sourced from our partner Financial Express. We believe the data to be correct however you should take care in using any information.

You should be aware that prices may fall as well as rise and that the income derived can go down as well as up. When buying or selling any investment that fluctuates in price or value you may get back less than you invested. Past performance is not necessarily a guide to future performance.