BMO Managed Portfolio Trust Income Portfolio

LN: BMPI

£56.8m market cap

131.5p last close

BMO Managed Portfolio Trust Income Portfolio (BMPI) aims to provide an attractive level of income, with the potential for income and capital growth from a diversified portfolio of investment companies. Underlying investment exposure is across a range of regions and sectors – the focus is on offering an income yield above the benchmark FTSE All-Share index.

Investment summary

BMO Managed Portfolio Trust (BMPT), which changed its name from F&C Managed Portfolio Trust on 9 November 2018, has a unique structure comprising two discrete portfolios investing in closed-end funds: BMPI, which aims to generate an attractive and growing level of income, with some capital growth, and BMPG, which aims to generate capital growth. Any income generated by BMPG is transferred to BMPI in exchange for an equivalent amount of capital. Manager Peter Hewitt notes that BMPI’s Q119 dividend is 3.8% higher year on year, and as previously announced, barring unforeseen circumstances, the board expects the regular annual dividend to be at least 5.85p per share (5.70p in FY18). For BMPG, the manager says the portfolio offers exposure to well-managed funds, with strong performance records and secular long-term growth characteristics. Given the manager’s near-term caution on equity markets, he has been increasing the more defensive exposures in both BMPI and BMPG.

Share price graph
Price performance
%
1m
3m
12m
Actual 0.8 4.0 (4.4)
Relative* 0.6 (1.6) (4.3)
52-week high/low 141.0p/120.5p
*% relative to local index
Key management
Peter Hewitt Fund manager

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