Dunedin Income Growth Investment Trust
Company Notes
Transition to post-pandemic reality underway
Dunedin Income Growth, part of Aberdeen Standard Investments’ UK Equity Income investment trust stable, aims to provide both income and capital growth by investing primarily in listed companies in the UK, with an overseas allocation of up to 20% of NAV. Ben Ritchie has been its lead manager since September 2016 and Georgina Cooper joined as co-manager in September 2020, replacing Louise Kernohan. The fund has performed well over the longer term and its NAV total return over the last five years is +63%, the second-best performance in the UK Equity Income peer group, outperforming the +40% return of the FTSE All Share Index. The fund has maintained its dividend four times in the last 41 years and has grown the dividend in each of the other 37 years.
In April, the fund announced proposals to adopt an ‘enhanced ESG’ approach that will adhere to sustainable and responsible investing criteria as defined by its Board. It will henceforth target a carbon intensity at least 20% lower than the FTSE All Share Index. Shareholders will vote on the proposals at the AGM on 10 June.
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