Bankers Investment Trust Plc

Global Equity Income

Rated Fund 2013-19. Solid choice for global large companies

Bankers represents a “very solid choice” for global large company exposure, according to Morningstar, and we continue to regard it highly thanks to its impressive long-term record.

Although its yield is a relatively modest 2.5%, Bankers, one of the UK’s oldest investment trusts, has one of the longest records for consecutive annual dividend increases at 52 years. It also aims for dividend growth in excess of the increase in the retail prices index.

Bankers has separate regional portfolios, run by regional specialists. It has a very well-diversified portfolio with nearly 200 holdings.

Alex Crooke has been its manager since 2003. He takes a keen interest in global developments and how government policies are shaping the fortunes of different countries and regions. Crooke 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. Almost one third is invested in North America. Following the reduction in the UK element, Bankers’ exposure to Europe, the Pacific region and Japan has increased. They now account for 16%, 14% and 12% of the portfolio, respectively.

The shares can typically be bought at a small discount to net asset value, and have traded within Alex Crooke a range of -10% to +2% in the past three years.

Narrative and ratings content all as of 01 January 2019.

See all Money Observer rated funds
Name
Bankers Investment Trust Plc
Manager
Janus Henderson Investors Ltd
Type
Closed Ended Investment Company
ISIN
GB0000767003
Sector
Global
Launched
13/04/1888
OCF
0.5 %
Risk Rating
4
3 Year Sharpe
1.33
3 Year Alpha
3.92
Yield
2.3 %
Benchmark
FTSE World TR GBP
Fund Size
£ 1.07 billion
NAV
869
Gearing
103
Discount Premium
-1
To achieve capital growth in excess of the FTSE World Index and annual dividend growth greater than inflation, by investing in companies listed throughout the world. The investment ranges apply: Equities: 80% to 100%; Debt securities and cash investments: 0% to 20%; Investment trusts, collective funds and derivatives: 0% to 15%.
Holding %
Microsoft Corp 2.08 %
American Express Co 2.06 %
Union Pacific Corp 1.94 %
Berkshire Hathaway Inc B 1.79 %
The Estee Lauder Companies Inc Class A 1.63 %
Apple Inc 1.62 %
BP PLC 1.61 %
Visa Inc Class A 1.43 %
American Tower Corp 1.42 %
Comcast Corp Class A 1.36 %
Region %
United States 31.91 %
United Kingdom 24.35 %
Japan 11.44 %
Eurozone 9.03 %
Asia - Emerging 8.90 %
Europe - ex Euro 5.50 %
Sector %
Financial Services 20.52 %
Technology 14.25 %
Consumer Cyclical 13.36 %
Consumer Defensive 12.96 %
Industrials 11.63 %
Healthcare 8.20 %
Communication Services 6.36 %
Name
Janus Henderson Investors Ltd
Address
EC2M 3AE, London, United Kingdom
UCITS
No
Legal Structure
Closed Ended Investment Company

Managers

Alex Crooke
Joined 07/01/2003

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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