Accounts

Merchants Trust NAV per share up 12.1 per cent

The Merchants Trust, managed by Allianz Global Investors, has seen its net asset value per ordinary share rise by 12.1 per cent or by 17.5 per cent including dividends.

The trust’s portfolio significantly outperformed the stock market during the year. The portfolio’s capital return of 9.6 per cent was 5.9 per cent ahead of the FTSE 100 Index capital return of 3.7 per cent.
 
The trust’s net asset value with debt at market value has outperformed the FTSE 100 Index over the past three years by 8.5 per cent.
 
Simon Fraser, chairman of the Merchants Trust, says: “The past year has been a very successful one for the Merchants Trust. As well as the trust’s continued outperformance, we have seen the company’s share price trade at a premium to the net asset value which has enabled Merchants to issue new shares. In conjunction with this, The Merchants Trust has paid increasingly higher dividends year-on-year for the last 32 years, providing shareholders with a growing source of income in the form of regular quarterly payments. Moreover, the dividend is now covered by earnings once again.”

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