Increase in the net asset value (NAV) total return. The share price total return was 11.1% over the financial year. This is ahead of the MSCI ACWI benchmark return of 10.9%
Annual results 2024
Explore the Company’s annual results with the full breakdown of investment performance and returns to 31 January 2024.
The report features commentary from the Chairman and a comprehensive overview from the Portfolio Manager. It delves into portfolio activity and provides the manager’s perspective on key market data, disruptors in the global economy, and the growth megatrends shaping investment decisions.
Key highlights
11.2%
4.20p
Total annual dividend for the financial year which is in line with last seven years. The fourth quarterly dividend of 1.5p will be paid on 26 April 2024.
3.9%
Utilising the investment trust structure, a new gearing (borrowing) arrangement of £10 million was agreed by the board and has been fully invested. This represents a level of 3.9% as at 31 January 2024.
10%
Increase in revenue return per share from 2.16p to 2.37p.
5 globes
The independent ratings agency Morningstar has awarded the Trust the highest possible Sustainability RatingTM of 5 globes. The portfolio has also received a Morningstar Low Carbon Designation which the agency created to help investors identify low-carbon funds within the global universe.
Top 2%
Morningstar also ranks the Company in the top 2% for corporate sustainability in the “Global Equity Large Cap” peer group consisting of 8,155 products. This is evidence of the standard of in-depth analysis undertaken.
Past performance is not a guide to future performance
It is encouraging to be able to report the strong returns that our Manager produced over the year under review. We remain confident in our Manager’s ability to select a portfolio of high quality, growing companies that will produce long-term performance for the Company's shareholders.
Christopher Metcalfe
Chairman