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Will the UK stock market continue to shine?
Job Curtis, Portfolio Manager of The City of London Investment Trust – one of the world’s oldest investment company’s – discusses performance over the last financial year, how he has navigated a volatile market environment, and provides his outlook for dividends going forward.
7 Nov 2022
Key takeaways:
- The City of London Investment Trust outperformed its benchmark for the financial year ending 30th June 2022. The Company has increased its dividend every year since 1966; this 56-year-old record is the longest of any investment trust.
- Stock selection was the key driver of returns, helped by the portfolio’s tilt towards large companies and dividend yield, and away from highly valued, growth stocks.
- While dividends from mining companies have probably peaked – given lower commodity prices – dividend recovery from sectors such as banks and energy should continue to drive the aggregate level of UK dividends higher.
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Related insights
7 Nov 2022
Key takeaways:
- The City of London Investment Trust outperformed its benchmark for the financial year ending 30th June 2022. The Company has increased its dividend every year since 1966; this 56-year-old record is the longest of any investment trust.
- Stock selection was the key driver of returns, helped by the portfolio’s tilt towards large companies and dividend yield, and away from highly valued, growth stocks.
- While dividends from mining companies have probably peaked – given lower commodity prices – dividend recovery from sectors such as banks and energy should continue to drive the aggregate level of UK dividends higher.