FAQs

Answers to the City of London Investment Trust frequently-asked-questions (FAQs) can inform investment decisions, with key data about sectors, fees, fund managers, independent ratings, and more.

• What is The City of London Investment Trust's investment objective?

  The Company’s objective is to provide long-term growth in income and capital, principally by investment in equities listed on the London Stock Exchange. The Board fully recognises the importance of dividend income to shareholders.

• When was The City of London Investment Trust incorporated?

  The Company was formed in 1860 to acquire Calverts, a family brewing business in the City of London. It registered as a limited company on 26 September 1891. Since 1932, it has been investing in securities according to investment trust principles and is one of the UK’s oldest investment trusts.

• Who is the Fund Manager of The City of London Investment Trust?

  The Fund Manager is Job Curtis, Director, Global Equity Income. He joined the asset management industry in 1983 and has been with Janus Henderson since 1987. Job has managed the Company since 1991.

  The Deputy Fund Manager is David Smith, appointed in 2021. He joined the asset management industry in 2002 and has been with Janus Henderson since 2002.

• What is The City of London Investment Trust's benchmark?

  The Company’s investment benchmark is the FTSE All-Share Index. The Company’s Net Asset Value and share price total returns have outperformed the Benchmark over 10 years[1].

  [1] Source: Janus Henderson, The City of London Investment Trust Fact Sheet. Updated quarterly.

• What is The City of London Investment Trust's sector?

  The Association of Investment Companies (AIC) classifies companies into sectors as a way of grouping companies with common characteristics. The classifications are based on a combination of the Company’s regional or industry focus, and its investment objective. The City of London Investment Trust is classified within the ‘UK Equity Income’ sector.

• How big is The City of London Investment Trust?

  As of 29th February 2024, the Company had total assets of £2.09B under management.

  Source: AIC. Updated monthly.

• When does The City of London Investment Trust make dividend payments?

  Dividends are declared quarterly and paid in February, May, August, and November.

• What are AIC Dividend Heroes?

  Each year, the Association of Investment Companies (AIC) publishes its list of ‘Dividend Heroes’, the investment companies which have increased their dividends for 20 or more years consecutively. There are currently 20 Dividend Hero investment companies. The City of London Investment Trust has increased its dividends for 57 consecutive years.

• Has The City of London Investment Trust been independently rated by a third party?

  The Company has received an overall rating of ★★★★ by Morningstar. The Company’s analyst rating is Silver.

• What is the annual management fee of The City of London Investment Trust?

  The management fee is 0.3% pa of net assets.

• Where can I find additional research on The City of London Investment Trust?

  For general insight into the Company please see the latest Kepler commissioned research: 2023 research note.

  This research gives general insight into the background of the Investment Trust, and the investment strategy with which it is run. In addition to this it outlines the Company’s objectives and provides updates from the Fund Manager, as well as recent performance data.