Bankers Investment Trust (The) (LSE: BNKR)

Last close As at 22/05/2024

GBP1.13

−1.00 (−0.88%)

Market capitalisation

GBP1,336m

The Bankers Investment Trust (BNKR) aims, over the longer term, to achieve capital growth in excess of a global developed markets index and annual dividend growth greater than UK CPI inflation, by investing in companies listed throughout the world. BNKR has one of the longest records of year-on-year dividend growth for an investment trust. It is listed on the London Stock Exchange with a secondary listing in New Zealand.

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Equity Analyst

Melanie Jenner

Mel Jenner

Director, Investment Trusts

Key Management

  • Alex Crooke

    Fund manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 1.8 5.6 12.6
Relative (2.6) (2.9) 4.5
52 week high/low 117.0p/92.3p

Overview

The Bankers Investment Trust (BNKR) posted an 8.1% net asset value (NAV) per share total return (TR) in H123 (period ending 30 April 2023). Most of its regional sub-portfolios (sleeves) outperformed their benchmarks, highlighting the respective managers’ strong stock-selection capabilities. Dividend income across the portfolio was up 10% in H123 and BNKR declared a second interim dividend of 0.62p (with the ytd payout up c 10% y-o-y). Moreover, Alex Crooke (BNKR’s lead manager) now expects FY23 dividend growth of at least 7% versus 5% earlier, which he believes should allow BNKR (after high inflation in FY22) to resume its track record of delivering dividend growth ahead of UK inflation.

Thematics

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UK stock market – Scope for further upside in UK large-cap stocks

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Listed private equity – Performing a balancing act

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European equities

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