The Diverse Income Trust’s objective is to provide an attractive and growing level of dividends, coupled with capital growth over the longer term. It invests in a diversified portfolio primarily of quoted or traded UK companies across the market-cap spectrum, with a bias to high-quality small- and mid-cap stocks. Because it builds a stock-specific portfolio, the team does not use a benchmark.
Investment Companies
Investment Companies
Investment Companies
Gervais Williams
Fund manager
Martin Turner
Fund manager
Michael Wrobel
Chairman
% | 1M | 3M | 12M |
---|---|---|---|
Actual | (3.9) | (4.3) | (15.8) |
Relative | 0.8 | (5.3) | (14.9) |
52 week high/low | 109.5p/83.4p |
The Diverse Income Trust (DIVI) is managed by Gervais Williams and Martin Turner at Premier Miton. They are very optimistic about the prospects for UK stocks, with Williams recently stating: ‘I am more bullish than I have been in the last 30 years’. UK equity valuations are looking very attractive versus other markets and their own history, while there is a historically wide discount between the valuation of DIVI’s portfolio and that of the UK market. The trust’s income is now higher than pre-COVID-19 levels, with the improvement exceeding that of UK stocks in aggregate, which Williams attributes to the success of its portfolio companies. He believes that DIVI’s shareholders will be rewarded with a higher level of income, while successful stock selection, which has been demonstrated in the past, could lead to outperformance versus the UK and global markets.
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