EQS-News: Edison Investment Research Limited / Key word(s): Miscellaneous Edison issues review on The Merchants Trust (MRCH) 10-Jan-2017 / 10:00 GMT/BST
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London, UK, 10 January 2017 Edison issues review on The Merchants Trust (MRCH) The Merchants Trust (MRCH) invests in a portfolio of primarily large-cap UK equities aiming to generate income and long-term capital growth. MRCH differentiates itself from its peers due to its high income and dividend growth - its dividend yield is consistently above the benchmark FTSE 100 index - and has 34 years of consecutive annual dividend growth. Near-term investment performance has improved; this is partly a function of rising bond yields as investors are starting to rotate away from expensive bond proxies and towards more cyclical, higher-yielding sectors of the UK stock market. MRCH is now outperforming its benchmark over five years. Gearing of up to 25% of net assets is permitted. MRCH's current 5.0% share price discount to cum-income NAV (with debt at market value) is modestly wider than the averages of the last three, five and 10 years (2.9%, 2.3% and 2.0% respectively). There is potential for the discount to narrow if near-term improved investment performance is maintained and as the date for the maturity of the first tranche of MRCH's high-cost debt in January 2018 approaches. MRCH has a progressive dividend policy; its annual dividend has increased for 34 consecutive years and the current dividend yield is 5.1%. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. Contact details: Learn more at www.edisongroup.com and connect with Edison on:
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Dissemination of a UK FINANCIAL NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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End of Announcement - EQS News Service 535203 10-Jan-2017
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London, UK, 10 January 2017 Edison issues review on The Merchants Trust (MRCH) The Merchants Trust (MRCH) invests in a portfolio of primarily large-cap UK equities aiming to generate income and long-term capital growth. MRCH differentiates itself from its peers due to its high income and dividend growth - its dividend yield is consistently above the benchmark FTSE 100 index - and has 34 years of consecutive annual dividend growth. Near-term investment performance has improved; this is partly a function of rising bond yields as investors are starting to rotate away from expensive bond proxies and towards more cyclical, higher-yielding sectors of the UK stock market. MRCH is now outperforming its benchmark over five years. Gearing of up to 25% of net assets is permitted. MRCH's current 5.0% share price discount to cum-income NAV (with debt at market value) is modestly wider than the averages of the last three, five and 10 years (2.9%, 2.3% and 2.0% respectively). There is potential for the discount to narrow if near-term improved investment performance is maintained and as the date for the maturity of the first tranche of MRCH's high-cost debt in January 2018 approaches. MRCH has a progressive dividend policy; its annual dividend has increased for 34 consecutive years and the current dividend yield is 5.1%. Click here to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. Contact details: Learn more at www.edisongroup.com and connect with Edison on:
LinkedIn www.linkedin.com/company/edison-investment-research Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
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Dissemination of a UK FINANCIAL NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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End of Announcement - EQS News Service 535203 10-Jan-2017
