City of London Investment Trust aims to provide growth in income and capital by investing predominantly in larger UK companies with international exposure. It has increased its dividend payment every year for the past 55 years. Manager Job Curtis has run the trust for more than three decades and his thorough research process and conservative approach to stock selection have generated steady returns over a long time. The trust is also very good value: it charges 0.325% per annum of net assets under management.
What’s covered in this episode:
- Why the UK stock market has been doing well this year
- If the UK stock market can continue to do well
- How much exposure the trust has to oil companies
- If the windfall tax could have an impact on oil company dividends
- Why the North Sea is important when it comes to this windfall tax
- How much gearing the trust has at the moment
- How inflation could impact UK equity investments
- Why the manager thinks interest rates will rise further
- How the trust has some inflation protection through its holdings
- Which area of the UK stock market the manager likes best
- Which area he likes least
- What tips the manager has for investors
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