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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Alex Crooke
Fund manager
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (1.3) | 7.6 | 8.0 |
Relative | (2.2) | 1.0 | 6.4 |
52 week high/low | 112.4p/92.3p |
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.
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