The Bankers Investment Trust PLC
The Bankers Investment Trust PLC is a listed fund that provides investors with exposure to global equities. This is achieved by the current manager, Alex Crooke of the Henderson Group, through his ability to select stocks and set asset allocation. Historically around two thirds of performance has been derived from stock selection and one third from asset allocation. There is some risk of getting asset allocation calls wrong, but because the portfolio is highly diverse with approximately 200 stocks held this risk is minimised.
The manager has an investment objective to increase the dividend each year, this has been achieved for the last 49 years. The focus on dividend paying stocks also provides some defensiveness during weaker markets. The Bankers Investment Trust UK listing has a yield of approximately 2.5%.
Currently the shares are trading at a 7% discount to the Net Asset Value, which is near the five year average of a 5% discount. Shares in the Bankers Investment Trust are denominated in Sterling and can be bought and sold on the London Stock Exchange. It is worth noting that the shares also have a secondary listing on the New Zealand Stock Exchange for those investors wishing to keep their investments in New Zealand dollars.
We believe Bankers Investment Trust represents a very solid choice for global large-cap exposure with a helpful quarterly yield.
Above : 5 year chart
|Latest Portfolio Breakdown|
|Assets 30/04/2016||%||Sector 30/04/2016||%||Holdings 30/04/2016||% of Assets|
|Equity - Listed||92||Finance - General||23.7||BP Plc||1.6|
|Cash Alternatives||8||Consumer Goods||17||Delphi Automotive PLC||1.6|
|Country 30/04/2016||%||General Industrials||16.4||British American Tobacco||1.5|
|UK||31.1||Consumer Services||15||American Tower Corp||1.4|
|Japan||10.3||Healthcare||6.6||Royal Dutch Shell PLC ADR B||1.3|
|Cash/Cash Equivalent||8||Telecommunications||4.7||Apple, Inc.||1.2|
|China||4.8||Oil & Gas||4.5||Roper Technologies Inc||1.2|
|France||3.5||Utilities||1.5||Cardinal Health Inc||1.1|