Securities Trust of Scotland

LN: STS

£203.7m market cap

195.5p last close

Securities Trust of Scotland’s investment objective is to provide rising income and long-term capital growth from a portfolio of global equities. Following the adoption of an unconstrained mandate from 1 June 2016, the trust measures its performance versus the rolling three-year median return of open- and closed-ended peers, as well as an absolute target to produce real growth in revenue and cum-income NAV on a rolling five-year basis.

Investment summary

Securities Trust of Scotland (STS) aims to deliver both income and capital growth to shareholders over the long term. Since June 2016, STS has employed an investment mandate that is not constrained by index considerations. The manager, Mark Whitehead, follows a rigorous bottom-up approach to construct a relatively concentrated portfolio of 35–55 high quality, large-cap companies with sustainable earnings and dividend growth. Since the change in the trust’s benchmark on 1 June 2016, STS has delivered an annualised NAV total return of 14.3% to end-August 2019. The board adopts a progressive dividend policy and refreshed the trust’s marketing strategy last year, including the appointment of director, Sarah Harvey, who is a marketing specialist.

Share price graph
Price performance
%
1m
3m
12m
Actual (0.3) 3.7 20.7
Relative* 1.7 7.2 17.7
52-week high/low 200.5p/151.0p
*% relative to local index
Key management
Rachel Beagles Chairman
Christopher Pyrkosz Head of Investment Trust Marketing
Mark Whitehead Fund manager

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