Brunner Investment Trust (The)

LN: BUT

£321.1m market cap

749p last close

The Brunner Investment Trust aims to provide growth in capital value and dividends over the long term through investing in a portfolio of UK and international securities. Since 25 March 2008, the benchmark has been a composite of 50% FTSE All-Share and 50% FTSE World Index (ex UK £).

Investment summary

The Brunner Investment Trust (BUT) is now a much more focused global equity proposition compared with mid-2016: there is a single manager, running a single portfolio (rather than one UK and one overseas), performance has improved and the board has paid off the trust’s longstanding, high-cost debt. Manager Lucy Macdonald believes that the investment cycle is mature, characterised by peak levels of liquidity, earnings growth and equity valuations, suggesting investors should gravitate towards quality companies that can generate above-average returns on investment. BUT has a distinguished dividend track record; its annual distribution has increased for the last 46 consecutive years.

Share price graph
Price performance
%
1m
3m
12m
Actual (1.1) 5.9 0.8
Relative* (3.1) (2.5) (2.1)
52-week high/low 814.0p/681.0p
*% relative to local index
Key management
Carolan Dobson Non- Executive Director
Lucy Macdonald Fund manager

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