The Merchants Trust

LN: MRCH

Market Cap£637.4m

Last Close 517p

The Merchants Trust’s investment objective is to provide an above-average level of income and income growth, together with long-term growth of capital, through investing mainly in higher-yielding large-cap UK companies. With effect from 1 February 2017, the benchmark is a broad UK stock market index (previously an index of the 100 largest UK companies).

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Investment summary

The Merchants Trust (MRCH) is managed by Simon Gergel who is chief investment officer, UK equities, at Allianz Global Investors. He stresses that being a value investor does not mean buying bad businesses, and the polarised UK market is enabling him to invest in high-quality companies at reasonable prices. While the manager experienced a tough period of relative performance during the coronavirus-led market sell-off in early 2020, he adhered to his long-term, high-conviction process, which was the correct strategy as shown by the meaningful performance improvement in the chart below. MRCH consistently offers an above-market dividend yield (currently 5.3%).

Content on The Merchants Trust
The Merchants Trust – Distinguished history of dividend growth
Investment companies | Review | 26 November 2020
Company profile - Aberdeen Asian income fund feature image - 28062019- JPGmoney & pens
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Share price graph
Price performance
%
1m
3m
12m
Actual (1.4) 1.0 50.3
Relative* (1.7) (0.2) 24.0
52-week high/low 532.0p/325.0p
*% relative to local index
Key management
Colin Clark Chairman
Simon Gergel Fund manager

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