Diverse Income Trust PLC (The) Edison reviews The Diverse Income Trust (DIVI)
15 April 2019 - 9:35PM
RNS Non-Regulatory
TIDMDIVI
Diverse Income Trust PLC (The)
15 April 2019
London, UK, 15 April 2019
Edison issues review on The Diverse Income Trust (DIVI)
The Diverse Income Trust (DIVI) aims to generate a good and
growing level of income, as well as capital gains over the long
term. It is not constrained by benchmarks and has a wide
opportunity set across the market capitalisation spectrum to find
high-quality, resilient companies that can sustain dividend growth
over the long term. The managers, Gervais Williams and Martin
Turner, have a small-cap bias and over two-thirds of the portfolio
is outside of the FTSE 350 index. Since its inception in April
2011, the trust has delivered an annualised NAV total return of 12%
and consistent growth in its regular dividend. Performance in more
recent years has lagged the FTSE All-Share index, which the
managers believe reflects small-cap and value stocks being
overlooked, and they are finding superior investment opportunities
in this segment of the UK equity market.
At 31 March, DIVI traded on a 2.0% discount to cum-income NAV,
which is wider than its three-year average discount of 0.4%. The
trust typically trades close to its NAV, and the board is committed
to manage the discount, utilising an annual redemption facility and
its ability to issues new shares to meet supply and demand
requirements.
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