Key Takeaways

• The City of London Investment Trust performed well in the first half 2021, benefiting from exposure to financials and life insurance companies
• Concentration risk is now less of an issue in the UK, as companies that were overdistributing dividends previously; have had a chance to recalibrate their dividend payments to more affordable levels following the Covid-19 induced lull
• With UK equity market valuations appearing cheap relative to their global counterparts; there has been a flurry of takeover bids, with British supermarket chain Morrisons, the most recent example

References made to individual securities should not constitute or form part of any offer or solicitation to issue, sell, subscribe or purchase the security. Janus Henderson Investors, one of its affiliated advisor, or its employees, may have a position mentioned in the securities mentioned in the report.