Skip to main content

In order to access the website of Winterflood Securities Limited you must first read and accept the following terms:

This website is not directed at, or intended for distribution to or use by, any U.S. citizen, person, or entity that resides in or is located in the United States of America or any other jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation which would subject Winterflood to any registration or licensing requirements with such jurisdiction. Services are not available to U.S. persons except where such services are permitted under SEC rule 15a6 or other relevant exemptions from SEC Broker/Dealer registration requirements.

Please note that Winterflood Securities Limited is not registered as a broker-dealer with the Securities and Exchange Commission and is not a member of Financial Industry Regulatory Authority Inc. (“FINRA”). All research reports provided on this website are being distributed directly by Winterflood Securities Limited to persons in the U.S. that qualify as “major U.S. institutional investors” in compliance with Rule 15a-6(a)(2) of the Securities Exchange Act of 1934. Accordingly, these research reports have not been prepared in compliance with FINRA requirements. Please refer to our Full Disclaimer here.

Research on this Website

Research on this website has been issued for the information of Professional Clients and Eligible Counterparties (as defined in the FCA handbook) of Winterflood Securities Ltd (“Winterflood”). The terminology used within the research reports is intended for professional investors. Research reports are not intended to provide the sole basis for any evaluation of an investment decision.

Each research report on this website must be read in conjunction with any disclaimer which forms part of it. Your attention is drawn to the date of issue of the information provided and of the opinions expressed therein. Any opinions are those of the Winterflood Investment Trust research team and are subject to change without notice and Winterflood is not under any obligation to update or keep current the information contained herein. The material on this website is based on information obtained from sources believed to be reliable but which have not been independently verified and are not guaranteed as being accurate.

Use of Cookies

For information on the cookies used on our websites, please refer to our Cookies Policy which can be accessed here.

Privacy

For information on how we treat your personal data, please refer to our Privacy Notice which can be accessed here.

More information can be found in our Legal Disclaimer

If you have read and accepted the terms and conditions for use of this website please click continue
14 Dec 2020

Mercantile Investment Trust

Company Notes

Outperforming while anticipating a market recovery

The Mercantile Investment Trust aims to provide capital growth as well as a growing dividend by investing in a diversified portfolio of UK mid- and small-cap stocks. It is the largest investment trust invested predominantly in the UK market, with assets of £2.1bn. The investment philosophy is focused on quality growth opportunities. Guy Anderson has been the fund’s lead manager since 2015, having previously been co-manager. Anthony Lynch is the co-manager of the portfolio and has worked on the fund since 2009. The fund has outperformed over the last five years, with a NAV total return of 38% compared with 25% for the FTSE All Share Index (ex FTSE 100 ex IT). Its returns compare favourably to peers as well, outperforming its closest comparators JPMorgan Mid Cap and Schroder UK Mid Cap over the past five years, three years and the last twelve months, with a similar dividend yield.