Bankers Investment Trust Plc
Global Equity Income
Rated Fund 2013-2018. Seeks good total returns from income and capital
Bankers previously appeared in our Global Growth asset group, but in 2017 we switched it into the Global Equity Income category to reflect its impressive record of dividend income increases.
Although its yield is a relatively modest 2.2 per cent, Bankers, one of the UK's oldest investment trusts, has one of the longest records for consecutive annual dividend increases, at 51 years. It also aims for dividend growth in excess of the increase in 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, which are managed by regional specialists. It has a very well diversified portfolio with nearly 200 holdings. Alex Crooke, its manager since 2003, is responsible for the asset allocation of the trust, 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 countries and regions. He also runs the UK segment, which has been reduced from just under a half of the portfolio to just over one quarter in recent years. A similar proportion is invested in North America. Following the reduction in the UK element, Bankers' exposure to the Pacific region, Europe and Japan has increased.
The shares can typically be bought at a small single-digit discount to net asset value, and have traded within a range of -11.7 per cent to +3.4 per cent in the past three years.
Narrative and ratings content all as of 01 January 2018.See all Money Observer rated funds
|Microsoft Corp||1.94 %|
|Union Pacific Corp||1.87 %|
|Apple Inc||1.86 %|
|American Express Co||1.77 %|
|BP PLC||1.69 %|
|Berkshire Hathaway Inc B||1.60 %|
|The Estee Lauder Companies Inc Class A||1.52 %|
|Visa Inc Class A||1.38 %|
|Royal Dutch Shell PLC B||1.35 %|
|Mastercard Inc A||1.31 %|
|United States||31.56 %|
|United Kingdom||24.70 %|
|Asia - Emerging||9.21 %|
|Financial Services||21.00 %|
|Consumer Cyclical||13.98 %|
|Consumer Defensive||11.70 %|
|Communication Services||6.10 %|
Alex Crooke is Co-Head of Equities – EMEA and Asia Pacific at Janus Henderson Investors, a position he has held since 2018. Alex is responsible for equities in the EMEA and APAC regions and is a Portfolio Manager for the Global Equity Income and Global Dividend & Income strategies. Previously, he was head of global equity income and specialist equities from 2013. 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 Global income orientated equity products. 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.
Data provided by Morningstar.
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