Over the year ended 30 November 2016, Brunner Investment Trust’s NAV increased by 20.2% on a total return basis, outperforming the benchmark which generated a total return of 18% over the period. The total dividend payment for 2016 was upped to 15.8p, an increase of 3.3% on last year.
For the majority of its history, Brunner has been managed as two separate portfolios, UK equities and overseas equities. Lucy Macdonald, who has managed the overseas portfolio since 2005 became sole manager in June 2016 and the two portfolios were combined to become one global equity portfolio. The proportion allocated to the UK in the benchmark will change, provided shareholders approve, to 30:70 UK:Overseas equities from 50:50.
Unfortunately there is no report from the manager in the announcement. If you’re interested to know what factors drove performance, you’ll have to wait for the annual report to be published.
BUT : Brunner beats benchmark in 2016