Bankers Investment Trust PLC Edison issues review on The Bankers Invst Trust
14 Agosto 2023 - 3:15AM
RNS Non-Regulatory
TIDMBNKR
Bankers Investment Trust PLC
14 August 2023
London, UK, 14 August 2023
Edison issues review on The Bankers Investment Trust (BNKR)
The Bankers Investment Trust (BNKR) posted an 8.1% net asset
value (NAV) per share total return (TR) in H123 (period ending 30
April 2023). Most of its regional sub-portfolios (sleeves)
outperformed their benchmarks, highlighting the respective
managers' strong stock-selection capabilities. Dividend income
across the portfolio was up 10% in H123 and BNKR declared a second
interim dividend of 0.62p (with the ytd payout up c 10% y-o-y).
Moreover, Alex Crooke (BNKR's lead manager) now expects FY23
dividend growth of at least 7% versus 5% earlier, which he believes
should allow BNKR (after high inflation in FY22) to resume its
track record of delivering dividend growth ahead of UK
inflation.
BNKR can be viewed as a 'one-stop shop' for global equity
exposure. Its portfolio consists of six geographic sleeves, managed
by Janus Henderson Investors' (JHI's) regional specialists. It is
an interesting proposition for investors seeking a global equities
portfolio that is balanced geographically, large-cap biased and
style-neutral, providing both exposure to growth stocks and growing
income. We note that Crooke has recently increased the trust's
exposure to more defensive businesses, while avoiding the most
popular technology stocks. The manager acknowledges the ongoing
disruption caused by the implementation of AI, but focuses on more
diverse companies that should benefit from the trend, such as
Microsoft and Accenture, rather than pure-play AI businesses.
Click here to view the full report.
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Mel Jenner +44 (0)20 3077 5700
Michal Mordel +44 (0)20 3077 5700
investmenttrusts@edisongroup.com
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August 14, 2023 02:15 ET (06:15 GMT)
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