Bankers Investment Trust has published results for the year ended 31 October 2015. Over the year the net asset value rose by 5.7%, the share price by 9.9% and the dividend was increased by 6.8% to 15.8p (making the 49th consecutive year of dividend increases).
They say all of their major geographic portfolios exceeded their local benchmark indices, (with special mention to the US outperforming by 5.5%, Europe by 7.3% and Japan by 10.1%). Only the Emerging Market sleeve missed its benchmark, underperforming by 7.4% where they had too much exposure to Latin America and were impacted in particular by the fall in currencies.
A table in the report shows how the current 25 largest holdings performed over the year, suggesting that holdings in BP, Shell, HSBC and American Express all cost the fund significant amounts of money while holdings in Delphi Automotive, ITV and Fresenius benefited the fund. There is no commentary on this table though and it will exclude stocks that they no longer hold in significant quantities including perhaps some that performed quite badly and some that performed quite well.
BNKR : Bankers does well, raises dividend for 49th year