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 for the financial year ending 30th June 2022, how he has navigated a volatile market environment, and provides his outlook for dividends going forward.
- 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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These are the views of the author at the time of publication and may differ from the views of other individuals/teams at Janus Henderson Investors. Any securities, funds, sectors and indices mentioned within this article do not constitute or form part of any offer or solicitation to buy or sell them.
Past performance does not predict future returns. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested.
The information in this article does not qualify as an investment recommendation.
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- If a Company's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio that is diversified across more countries.
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