Diverse Income Trust Outperforms in Half-Year Results
Why we think this is good
The Trust has demonstrated strong performance, outpacing both its benchmark and peer group with a 4.9% NAV total return. Revenue and dividends continue to grow, and ongoing charges have been reduced. While the UK equity market faces challenges, particularly for smaller companies, the Trust's multicap strategy and the manager's positive outlook suggest potential for continued outperformance.
Key Points
- NAV per ordinary share increased to 100.25p from 98.87p
- Revenue return per ordinary share up 10.5% to 2.63p
- Ordinary dividends per share increased 2.5% to 2.05p
- Adjusted NAV total return of 4.9%, outperforming benchmark (2.1%) and peer group (0.9%)
- Ongoing charges reduced to 1.09% from 1.14%
- Discount to NAV slightly widened to 8.4% from 8.6%
- Long-term NAV total return of 235.5% since inception in April 2011
Summary
The Diverse Income Trust PLC has released its half-year results, showing strong outperformance against both its benchmark and peer group. The Trust's NAV per share increased to 100.25p, up from 98.87p at the end of the previous financial year. Revenue return per share grew by 10.5% to 2.63p, supporting a 2.5% increase in dividends to 2.05p per share for the period. The Trust's ongoing charges reduced to 1.09%, potentially improving future returns. Despite challenges in the UK equity market, particularly for smaller companies, the Trust's multicap strategy and the manager's positive outlook suggest potential for continued outperformance. The long-term performance remains impressive, with a NAV total return of 235.5% since inception in April 2011.