Overview
Merchants Trust aims to provide its shareholders with an above-average level of income which increases over time through a policy of investing mainly in higher yielding UK FTSE 100 companies. Merchants Trust says by investing in companies listed on the London Stock Exchange, investors gain exposure to business activities across the globe whilst benefitting from the UK’s leading corporate governance standards and that every stock the Trust invests in undergoes rigorous analysis.
Fundamentals
Price
Research History
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07 Dec 2022 8 min read
QuotedData’s Investment Companies Roundup – December 2022
Investment Companies Monthly Roundup Kindly sponsored by abrdn December 2022 Monthly | Investment companies Winners and losers in November 2022 As discussed in this month’s economic and political roundup, lower US inflation triggered a fall in the US dollar and drove equity markets higher over November. The big surprise was the resurgence of Chinese markets […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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10 Aug 2020 7 min read
QuotedData’s Investment Companies Roundup – August 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research Performance data Discounts and premiums Money in and out Major news stories Income Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over July: Seneca Global Income & Growth – […]
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07 May 2020 4 min read
QuotedData’s Economic Roundup – May 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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05 Apr 2019 4 min read
QuotedData’s economic roundup – April 2019
Kindly sponsored by Polar Capital Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy […]
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18 Jan 2019 1 min read
QuotedData’s investment companies roundup – January 2019
QuotedData’s investment companies roundup – January 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2018. Kindly sponsored by Baillie Gifford. Extract from money raised and returned in December The only new issue […]
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12 Oct 2018 1 min read
QuotedData’s Economic round up – October 2018
QuotedData’s Economic round up – October 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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10 Nov 2017 1 min read
QuotedData investment companies roundup – November 2017
QuotedData investment companies roundup – November 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2017. Kindly sponsored by Baillie Gifford. November Investment Companies Roundup Globalworth Real Estate’s discount was eliminated after it announced […]
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12 Oct 2017 1 min read
QuotedData’s economic round up – October 2017
QuotedData’s economic round up – October 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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04 Apr 2024 1 min read
Merchants Trust rakes in the cash despite lagging benchmark last year
Merchants Trust’s results for the 12 months ended 31 January 2024 show the trust lagging the +1.9% return posted by the All-Share Index, with NAV returns of -3.1% for the year. The statement makes no mention of the return to shareholders over the period, but does note that the shares traded at a premium to […]
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05 Apr 2023 3 min read
Merchants Trust at the head of the pack
Merchants announced its results for the year ended January 31, 2022. NAV total return for the period was 7.9% ahead of the benchmark index FTSE All-Share index return of 5.2% while shares were up around 3%. Merchants was also second in its peer group (a group of twenty one investment trusts with similar objectives) over the […]
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30 Sep 2022 5 min read
QuotedData’s morning briefing 30 September 2022
In QuotedData’s morning briefing 30 September 2022: NextEnergy Solar Fund (NESF) has announced that it has increased the commitments available under its Revolving Credit Facility (RCF) with AIB Group (UK) Plc and NatWest from £75m to £135m – an increase of £60m. The additional commitments have been agreed at a margin of 120bps over SONIA […]
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09 Jun 2022 2 min read
QuotedData’s morning briefing 9 June 2022
In QuotedData’s morning briefing 9 June 2022: NextEnergy Solar Fund (NESF) now has its hundredth operating solar asset, an 181kW commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset benefits from an attractive 25-year power purchase agreement for 100% of its generated volume. This is the final investment under the […]
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07 Apr 2022 1 min read
Merchants ekes out 40th year of dividend growth after good year
Merchants Trust has published results covering the 12 months ended 31 January 2022. The NAV total return for the period was 35.7%, comfortably ahead of the benchmark All-Share Index return of 18.9%. As economies recovered from the effects of COVID, revenue earnings per share for the year were up 38.4% over the corresponding period last […]
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27 Sep 2021 3 min read
QuotedData’s morning briefing 27 September 2021
In QuotedData’s morning briefing 27 September 2021: Seraphim Space (SSIT) has invested $25m into Isotropic Systems, a leading developer of transformational broadband terminal technologies which is looking to redefine satellite communications. Isotropic’s Series B funding round raised more than $35m and other participants included strategic and deep-tech venture capital investors, such as AEI HorizonX, Promus […]
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11 Aug 2021 1 min read
Industry veteran and former F&C chair Simon Fraser passes away
Industry veteran and former F&C chair Simon Fraser passes away – Simon Fraser, former chief investment officer at Fidelity International and investment trust industry veteran, has passed away following a short illness, aged 62. He spent 28 years at Fidelity, starting in 1981, where he worked in the US, Europe and Asia. After leaving Fidelity, Fraser spent […]
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14 Apr 2021 3 min read
Merchants Trust grows dividend for 39th year and issues new shares over 2020
Merchants Trust (MRCH) has reported final results to 31 January 2021. The UK equity income trust’s NAV total return with debt at market value fell by 12.4% compared with a 7.5% decrease in the benchmark FTSE all-share index. Around half of the difference was the result of portfolio gearing, which exacerbates market movements, in either direction. This […]
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24 Dec 2020 2 min read
QuotedData’s morning briefing 24 December 2020
In QuotedData’s morning briefing 24 December 2020: Gresham House Energy Storage has conditionally agreed to acquire a c.30MW battery project located near Wester Dechmont, Livingston in West Lothian, Scotland. Byers Brae is a battery-only site with a c.30MW/30MW export/import capacity which is currently expected to be commissioned in the second quarter of 2021. The project is […]
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24 Jun 2020 1 min read
QuotedData’s morning briefing 24 June 2020
SDCL Energy Efficiency Income (SEIT) announced that after seeing the strong support given to the initial issue of new ordinary shares, announced on 18 June, the issue size has been increased from £60m to £110m. Augmentum Fintech (AUGM) announced that portfolio company, Zopa, has been awarded its full banking licence by the Prudential Regulatory Authority. […]
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24 Apr 2020 2 min read
Merchants Trust says dividend reserves to help protect distributions
Merchants Trust (MRCH) has reported final results to 31 January 2020. The landscape has changed considerably since the period-end. Over the annual results period, the performance highlights include: 18.7% increase in the NAV total return against 10.7% benchmark return; 18.6% rise in the share price; 4.2% increase in the dividend; 38th successive year of dividend growth; […]
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04 Jul 2019 1 min read
QuotedData’s other news 4 July 2019
In QuotedData’s other news 4 July 2019: Ashoka India Equity raised £5m from its issue of stock – it will issue 4,742,972 of its shares at a price of 111.7p. Cambria says that Payserv Africa Limited and Paynet Zimbabwe (Pvt) Ltd have instructed their legal practitioners in Zimbabwe, Titan Law, to commence legal action against the Bankers […]
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2 min read
Merchants Trust slashes debt costs
Merchants Trust slashes debt costs – The Merchants Trust PLC has entered into a new 3-year revolving credit facility with Scotiabank Europe Plc for GBP42 million. The money will be used to help repay £42m of Merchants’s Fintrust Debenture on 7 August 2019. This will significantly reduce the cost of debt. The weighted average interest rate […]
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29 Mar 2019 2 min read
Merchants Trust raises dividend for 37th consecutive year
Merchants Trust raises dividend for 37th consecutive year – The UK equity-focused income fund Merchants Trust (MRCH), which has a 130-year-old history, reported results today for the year to January 31, 2019. Highlights from the announcement Dividend growth of nearly 5%, ahead of inflation, and yield remains well above the sector average. The current dividend […]
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03 Apr 2018 2 min read
‘Experienced. Disciplined. Determined. All you want from a hero.’
‘Experienced. Disciplined. Determined. All you want from a hero.’ – Merchants Trust outperformed the All-Share, its benchmark index over the year to the end of January 2018. Its NAV total return was +14.5% with debt at market value, outperforming the benchmark total return of +11.3%. This investment return placed the company 6 out of 25 funds in […]
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23 Oct 2017 1 min read
Merchants Trust refinances debt
Merchants Trust refinances debt – The Merchants Trust has today priced an issue of a GBP35 million fixed rate 35 year secured private placement note with a coupon of 2.96%. The funding date, subject to final documentation, will be 18 December 2017, with interest payable semi-annually on 18 December and 18 June (first payment on 18 […]
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28 Jul 2016 6 min read
F&C Managed Portfolio beats benchmark despite widening discounts
F&C Managed Portfolio reports that, for the company’s financial year to 31 May 2016, the NAV total return (i.e. adding dividends paid to capital performance) was -4.8% for the Income shares and -4.5% for the Growth shares which represented outperformance against the -6.3% total return for the FTSE All-Share Index, the benchmark index for both […]
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31 Mar 2016 2 min read
34 consecutive years of dividend growth for Merchants Trust
Merchants Trust, managed by Simon Gergel (pictured) has announced its annual results for the year ended 31 January 2016. In what its Chairman, Simon Fraser, describes as a difficult year for equity markets, the trust has provided an NAV total return of -5.0% thereby modestly beating its FTSE All-Share benchmark, which provided a total return of […]
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24 Sep 2015 2 min read
Widening discount holds back Merchant Trust’s returns
Merchants Trust reports a 2.8% return on net assets for the six months ended 31 July 2015 and a -1.1% return to shareholders as the discount widened from 0.4% to 4.3%. The return on the FTSE100 Index for the period was 1.2%. Dividends for the first half totalled 12p, 1.7% higher than the pervious year. […]
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14 Apr 2015 1 min read
Merchants Trust held back by rising debt value
Merchants Trust has published results for the year ended 31 January 2015. Over that period the fund delivered a return on net assets of 4.7% which is about 2% behind the return generated by the FTSE100 Index over the same period. They say that most of this underperformance relates to changes in the market value […]
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02 Dec 2014 1 min read
The alternative plays in investment trusts
Source: http://www.moneymarketing.co.uk/news-and-analysis/analysis/the-alternative-plays-in-investment-trusts/2016533.article Income-seeking investors would do well to look at the alternative plays on offer in the investment companies space, such as renewable energy and asset leasing With interest rates held so low for so long, it is not surprising investors have been looking for alternative ways to generate income. That search is only set to […]
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03 Apr 2014 1 min read
Merchants Trust : MRCH – annual results
Merchants Trust has released its results for the year ended 31 January 2014. The fund is 125 years old this year so the annual report (which you can access from the Merchants Trust page by clicking the link) dwells quite a bit on the fund’s progress since 1889. 2013/14 was not a bad year for […]
Upcoming Events
Videos
In The Press
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15 Apr 2024 1 min read
Investment trust insider on benefiting from yield while waiting for a re-rating
Investment trust insider on benefiting from yield while waiting for a re-rating – James Carthew: I’ve bought two more renewables, now looking at UK equity income Disappointing inflation figures look likely to delay the start of interest rate cuts in the US. This is an unhelpful development for the many investment company sectors that have […]
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14 Mar 2024 2 min read
Where UK income fund managers are investing
by Val Cipriani, Investors Chronicle, March 13, 2024: When picking a fund, you should always look under the bonnet at how the portfolio differs from the benchmark and which stocks the managers are betting big on. Comparing the portfolio positionings of a range of funds gives us an idea of which stocks are currently in […]
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27 Jun 2023 1 min read
Are ‘dividend hero’ investment trusts keeping up with inflation?
by Kyle Caldwell from interactive investor, 27 June 2023: Research for interactive investor examined whether 19 investment trusts have beaten inflation over the past five years in terms of dividend growth, share price and net asset value (NAV) returns. The minimum aim of every investor should be to ensure that over the long term the […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
By Val Cipriani, Investors’ Chronicle, June 1, 2023: Investment trusts are announcing below-inflation dividend increases, making it more difficult for investors to maintain the real value of their income – although some might be able to catch up in 2024 or 2025. Last week, core infrastructure trust HICL Infrastructure (HICL) said it intends to maintain […]
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27 Feb 2023 1 min read
Put your trust in dividends and you can beat those savings rates
David Brenchley, February 26 2023, The Sunday Times: With the best one-year fixed savings account now paying 4.31 per cent, riskier investments such as stocks and shares may seem less attractive than they have been for a long time. If you can get a high interest rate on your money, why take more risk in […]
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31 Oct 2022 1 min read
Investment trust premiums: when to buy and when to avoid
by Faith Glasgow, from interactive investor, 31st October 2022: This year’s market turbulence, culminating in the vigorous response to the previous chancellor’s mini-budget in September, has hit investment trusts painfully. The FTSE All Share Closed End Investment index is down around 20% year-to- date, compared with the FTSE All-Share, which has lost around 10%. According […]
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18 Oct 2021 1 min read
Most UK equity income trusts are on a discount, which is the best value?
by Faith Glasgow from interactive investor 15th October 2021 The UK equity income investment trust sector proved a wise choice for income investors during the pandemic. At a time when businesses were struggling and dividends were being cut or suspended, trusts could draw on the revenue reserves built up over the years to continue payouts to investors. […]
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27 Nov 2020 1 min read
Bargains abound as investment trust sector yield spikes to 21st century high
Bargains abound as investment trust sector yield spikes to 21st century high Unweighted yield hit 5.2% at end-October David Brenchley, Investment Week, 25 November 2020 Income has been hard to come by for UK investors in recent years, and this was particularly the case in 2020 as Covid-19 wreaked havoc on dividends from stocks around […]
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23 Jul 2020 1 min read
Can investment trusts survive the UK dividend drought?
Can investment trusts survive the UK dividend drought? By Dave Baxter UK dividends have evaporated in the past few months, with no imminent recovery in sight. Link Asset Services predicts that UK dividends could fall by between 45 and 49 per cent on a headline basis in 2020 versus the previous year’s total, based on its best- and worst-case scenarios… […]
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14 Apr 2020 1 min read
How you can dodge the coronavirus dividend strike
How you can dodge the coronavirus dividend strike: Investors should choose trusts that have put aside money for rainy days By ANNE ASHWORTH FOR THE DAILY MAIL PUBLISHED: 21:51, 10 April 2020 | UPDATED: 09:59, 11 April 2020 The much-publicised move by the big banks to cancel their dividends has left investors with mixed emotions and many questions… The hundreds […]
