Edison review on The Bankers Investment Trust

RNS Number : 7227B

Bankers Investment Trust PLC

16 February 2022

 

London, UK, 16 February 2022

Edison issues review on The Bankers Investment Trust (BNKR)

The Bankers Investment Trust (BNKR) has continued to post good returns for investors during the financial year ended October 2021, which also saw the 55th consecutive year of dividend increase. Long tenured lead manager Alex Crooke oversees a team of in-house regional managers, allocating capital on the basis of where he sees attractive fundamentals. Over the past 12 months the allocation to European and Pacific ex-Japan equities has been increased on the basis of attractive valuations and the prospects for dividend growth. In addition, part of Crooke's remit is to decide upon the level of gearing, which has risen on the back of new long-term structural borrowings secured in July 2021. The manager anticipates the recent spike in global inflation will moderate but is likely to persist at 2-4%, which he feels is supportive for long-term equity market returns.

BNKR is a diversified global equity portfolio that benefits from an experienced fund manager able to cherry pick the best ideas from a wide pool of well-regarded Janus Henderson fund managers. This gives him a much closer appreciation of the regional sleeves than in a conventional 'manager of managers' arrangement and keeps costs relatively low. Despite its very competitive fees (ongoing charges of 0.48% in FY21), with an active share of 80% it is far from an index tracker. Through Crooke's steady hand, BNKR has been able to provide shareholders with good long-term returns and dividend growth substantially over and above inflation. 

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