Bankers Investment Trust (The) (LSE: BNKR)

Currency in GBP

Last close As at 25/01/2023

GBP1.03

0.20 (0.19%)

Market capitalisation

GBP1,333m

Over the long term, The Bankers Investment Trust (BNKR) aims to achieve capital growth in excess of the FTSE World Index and dividend growth greater than inflation, as measured by the UK Consumer Price Index, by investing in companies listed throughout the world.

Equity Analyst

David Holder

David Holder

Associate Director, Investment Trusts

Key Management

  • Alex Crooke

    Fund manager

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 3.9 7.1 (10.0)
Relative 0.1 (3.1) (12.1)
52 week high/low 117.4p/93.0p

Overview

In our update on The Bankers Investment Trust (BNKR) in August, we updated readers on fund manager Alex Crooke’s macroeconomic views and positioning. As one would expect, there have not been wholesale changes since then in his views and the resultant positioning, as invariably BNKR’s style is incremental change. There are some developments on the potential direction of travel for geographic weightings, with the manager taking advantage of the recent relative strength in UK large caps to raise levels of liquidity modestly, likely to be deployed in Asia over time. In other news, 2022 has been a decent year for a recovery in dividends. Janus Henderson Investors (JHI) estimates that on a 12-month forward basis, the top 10 positions within the trust (on an unweighted basis) should on average generate dividend increases of 11% and at H122 the board guided for an FY22 dividend increase of at least 5% over the level paid in 2021, which could well be a conservative estimate.

Thematics

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

Investment Companies

The case for US capital markets

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