Diverse Income Trust (The)

LN: DIVI

£374.2m market cap

104.5p last close

The Diverse Income Trust’s objective is to provide an attractive and growing level of dividends, coupled with capital growth over the longer term. It invests in a diversified portfolio primarily of quoted or traded UK companies across the market-cap spectrum, with a bias to high-quality small- and mid-cap stocks. As a stock-specific portfolio, there is no benchmark.

Investment summary

Gervais Williams’ and Martin Turner’s multi-cap approach to managing The Diverse Income Trust (DIVI) has yet again paid off, protecting on the downside. The trust has topped the ranks of UK high dividend yield peers over the past 12 months, and remains in the top quartile by NAV total return over the medium term. It has also materially outperformed the comparative indices since launch in 2011, demonstrating the managers’ skill to pick winners, patience, consistent approach, and the ability to diversify away most of the risk of dividend cuts. Williams believes that DIVI’s small- and mid-cap tilted portfolio is well positioned to continue benefiting from increased investor demand for cash-generative businesses, caused by fears over the current coronavirus pandemic and lockdowns.

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Share price graph
Price performance
%
1m
3m
12m
Actual 3.5 12.9 17.2
Relative* 5.1 9.4 24.3
52-week high/low 106.2p/54.6p
*% relative to local index
Key management
Michael Wrobel Chairman
Gervais Williams Fund manager
Martin Turner Fund manager

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