EQS-News: Edison Investment Research Limited / Key word(s): Research Update Edison Investment Research Limited: Edison issues review on The Diverse Income Trust 16-Feb-2017 / 08:54 GMT/BST
London, UK, 16 February 2017
Edison issues review on The Diverse Income Trust (DIVI)
The Diverse Income Trust (DIVI) invests in UK stocks from across the market cap spectrum that have strong prospects for sustainable dividend growth. This all-cap income generating strategy was developed by Gervais Williams and Martin Turner of Miton Asset Management. The c 145 stock portfolio provides a broad spread of investments and has a strong bias towards dividend-growing smaller companies. In terms of NAV total return, the trust has generated +125% over five years, ranking it second in its 23-strong peer group (the Association of Investment Companies' UK Equity Income sector). Since launch, DIVI's annual dividend has grown from 2.0p in FY12 to 2.8p in FY16 and it has built a substantial revenue reserve.
DIVI's share price has consistently traded close to NAV since launch and there is reason to anticipate continuing low discounts ahead; the potential for further share issuance should prevent excess demand, while DIVI's redemption facility should help prevent oversupply. The current premium to cum-income NAV is 1.2%, compared with an average premium of 1.8% since launch in April 2011. Click here to view the full report.
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