Overview
Temple Bar’s investment objective to provide growth in income and capital to achieve a long term total return greater than the benchmark FTSE All-Share Index through investment primarily in UK securities. The Company’s policy is to invest in a broad spread of securities with typically the majority of the portfolio selected from the constituents of the FTSE 350 Index.
The Manager’s investment approach is premised on a contrarian view on the timing of buy and sell decisions, buying the shares of companies when sentiment towards them is thought to be near its worst and aiming to sell them as fundamental profit improvement and/or re-evaluation of their long-term prospects takes place. The belief is that repeated investor behaviour in driving down the prices of ‘out of favour’ companies to below their fair value will offer investment opportunities. This will allow Temple Bar to purchase shares at significant discounts to their fair value with the aim of selling them as they become more fully valued, principally as a result of predictable patterns in human psychology.
You can access the trust’s website here
Fundamentals
Price
Research History
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22 Oct 2024 18 min read
Temple Bar – Historic opportunity
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. Impressively, the company is also well ahead of high-flying US indices over this period, highlighting the attractions of investing […]
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18 min read
Temple Bar – Historic opportunity
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. The company is also well ahead of high-flying US indices over this period, which, the managers note, highlights the […]
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18 min read
Temple Bar – Historic opportunity
Historic opportunity Over the past three years, the Temple Bar Investment Trust (TMPL) has delivered a share price total return of 40%, comfortably outperforming both its benchmark index and the wider UK equity income peer group. Impressively, the company is also well ahead of high-flying US indices over this period, highlighting the attractions of investing […]
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16 Aug 2024 1 min read
Interview with Ian Lance from Temple Bar Investment Trust
In this week’s show, James Carthew spoke to Ian Lance from Temple Bar investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here. If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would […]
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27 Mar 2024 14 min read
Temple Bar – Foundations for success
Temple Bar Investment Companies | Update | 27 March 2024 Foundations for success We are now more than three years into the tenure of Ian Lance and Nick Purves as managers of the Temple Bar Investment Trust. In that time, the Redwheel team has established a well-diversified portfolio of value-orientated holdings, positioned for what they […]
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14 min read
Temple Bar – Foundations for success
Temple Bar Investment companies | Update | 27 March 2024 Foundations for success We are now more than three years into the tenure of Ian Lance and Nick Purves as managers of the Temple Bar Investment Trust. In that time, the Redwheel team has established a well-diversified portfolio of value-orientated holdings, positioned for what they […]
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15 min read
Temple Bar – Foundations for success
Temple Bar Investment companies | Update | 27 March 2024 Foundations for success We are now more than three years into the tenure of Ian Lance and Nick Purves as managers of the Temple Bar Investment Trust. In that time, the Redwheel team has aimed to establish a well-diversified portfolio of value-orientated holdings, which it […]
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
Third quarter of 2023 Investment Companies | Quarterly roundup | October 2023 Kindly sponsored by abrdn ‘Uncomfortable’ Following a fast start to the first half of the year, globally equities took a breather in Q3, as markets assessed the implications of the worst bond sell-off in a generation. Yields on 10-year US treasuries and UK […]
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14 Sep 2023 41 min read
QuotedData’s Economic and Political Monthly Roundup September 2023
Economic and Political Monthly Roundup Investment companies | Monthly | September 2023 August was a moderately volatile month for markets as the economic picture in China worsened. Developed markets held up better than emerging markets. Yields on US government debt rose. Oil prices edged up, but the big jump was in natural gas prices as […]
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21 Jul 2023 1 min read
Interview with Ian Lance from Temple Bar
In this week’s show, James Carthew spoke to Ian Lance from Temple Bar. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would prefer to […]
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26 Jun 2023 17 min read
Temple Bar – True Colours
Temple Bar Investment companies | Update | 26 June 2023 True Colours We are quickly approaching the third anniversary of Redwheel’s appointment as the manager of Temple Bar in November 2020. While sticking to its value-seeking roots, managers Ian Lance and Nick Purves favour what they describe as a more balanced approach than the deep […]
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17 min read
Temple Bar – True Colours
Temple Bar Investment companies | Update | 26 June 2023 True Colours We are quickly approaching year three of Temple Bar’s rehabilitation under the new management of Redwheel, who took over the fund in November 2020. While sticking to its value-seeking roots, managers Ian Lance and Nick Purves favour a more balanced approach than the […]
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18 min read
Temple Bar – True Colours
Temple Bar Investment companies | Update | 26 June 2023 True Colours We are quickly approaching year three of Temple Bar’s rehabilitation under the new management of Redwheel, who took over the fund in November 2020. While sticking to its value-seeking roots, managers Ian Lance and Nick Purves favour a more balanced approach than the […]
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06 Apr 2023 82 min read
QuotedData’s Economic and Political Monthly Roundup April 2023
Economic and Political Monthly Roundup Investment companies | Monthly | April 2023 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 encourage […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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31 Aug 2022 14 min read
Temple Bar – Time to shine
Time to shine It is coming up to two years since Redwheel (formerly RWC Partners) took over management responsibility for Temple Bar (TMPL), and performance figures show that the change has proven to be a good decision for the trust. Of course, the change in investor appetite from growth to value-style investing has helped it […]
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14 min read
Temple Bar – Time to shine
Time to shine It is coming up to two years since Redwheel took over management responsibility for Temple Bar (TMPL), and performance figures since suggest that the change has been a good one for the trust. The apparent change in investor appetite from growth to value-style investing has helped it along its way, but the […]
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14 min read
Temple Bar – Time to shine
Time to shine It is coming up to two years since Redwheel took over management responsibility for Temple Bar (TMPL), and performance figures show that the change has proven to be a good decision for the trust. Of course, the change in investor appetite from growth to value-style investing has helped it along its way, […]
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01 Apr 2022 1 min read
Interview with Ian Lance from Temple Bar Investment Trust
In this week’s show, James Carthew talked to Ian Lance from Temple Bar Investment Trust. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us. Additionally, if you would […]
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08 Dec 2021 15 min read
Temple Bar – No compromise
No compromise The turnaround in TMPL’s fortunes following the appointment of RWC as manager and a surge in ‘value’ stocks on hopes of an end to the pandemic has been dramatic. Frustratingly, the trust’s discount widened from the middle of April 2021, as investors fretted about the impact of new variants and switched back to […]
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15 min read
Temple Bar – No compromise
No compromise The turnaround in TMPL’s fortunes following the appointment of RWC as manager and a surge in ‘value’ stocks on hopes of an end to the pandemic has been dramatic. However, the trust’s discount widened from the middle of April 2021, which may have been triggered by investors’ fears about the impact of new […]
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14 min read
Temple Bar – No compromise
No compromise The turnaround in Temple Bar (TMPL)’s fortunes following the appointment of RWC as manager last November and a surge in ‘value’ stocks on hopes of an end to the COVID-19 pandemic has been dramatic. Frustratingly, the discount that the trust’s shares trade on relative to their net asset value widened from the middle […]
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03 Sep 2021 1 min read
Interview with Ian Lance of Temple Bar Investment Trust
In this week’s show, Jayna Rana talked to Ian Lance of Temple Bar Investment Trust Watch it again here. If you were looking for QuotedData’s roundup of the week’s news, this is now in the news section – just click here. If there is a guest speaker you’d particularly like to hear from, please email us – […]
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23 Apr 2021 10 min read
Temple Bar Investment Trust – Just getting started
Just getting started RWC Partners took on responsibility for Temple Bar Investment Trust (TMPL) on 1 November 2020, and its appointment has coincided with a remarkable improvement in the fortunes of this UK equity income trust. Dramatic outperformance, a narrowing of the discount and a buzz around the resurgence of value investing mean that RWC […]
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10 min read
Temple Bar Investment Trust – Just getting started
Just getting started RWC Partners took on responsibility for Temple Bar Investment Trust (TMPL) on 1 November 2020, and its appointment has coincided with a remarkable improvement in the fortunes of this UK equity income trust. Dramatic outperformance, a narrowing of the discount and a buzz around the resurgence of value investing mean that RWC […]
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10 min read
Temple Bar Investment Trust – Just getting started
Just getting started RWC Partners took on responsibility for Temple Bar Investment Trust (TMPL) on 1 November 2020, and its appointment has coincided with a remarkable improvement in the fortunes of this UK equity income trust. Dramatic outperformance, a narrowing of the discount and a buzz around the resurgence of value-style investing mean that RWC […]
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25 Feb 2021 2 min read
QuotedData’s Round the World Webinar series – UK day playback
On 24th February 2021, QuotedData hosted the final Round the World webinar from our series. This webinar was focused on the UK and included presentations and Q&As from 4 investment companies’ managers, covering markets across the UK. We would like to thank all of our speakers and attendees for joining us. Click on the links below […]
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16 Oct 2020 11 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research Guide The legal bit Stubborn resistance The end […]
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09 Oct 2020 7 min read
QuotedData’s Investment Companies Roundup – October 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 Events Guide Appendix – Performance by sector full list New research Here is a list of research we published over September: Standard Life Investments Property Income Trust – […]
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23 Sep 2020 10 min read
Temple Bar Investment Trust – Keeping faith
Keeping faith In June, faced with the task of replacing longstanding manager Alastair Mundy, Temple Bar Investment Trust’s (TMPL’s) board reiterated its commitment to a value style of investing. The board has now opted to hand the management contract to Nick Purves and Ian Lance of RWC Partners, two managers with considerable experience of managing […]
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11 min read
Temple Bar Investment Trust – Keeping faith
Keeping faith In June, faced with the task of replacing its longstanding portfolio manager, Alastair Mundy, Temple Bar Investment Trust’s (TMPL’s) board reiterated its commitment to a value style of investing. The board has now opted to hand the management contract to Nick Purves and Ian Lance of RWC Partners, two managers with considerable experience […]
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10 min read
Temple Bar Investment Trust – Keeping faith
Keeping faith In June, faced with the task of replacing longstanding manager Alastair Mundy, Temple Bar Investment Trust’s (TMPL’s) board reiterated its commitment to a value style of investing. The board has now opted to hand the management contract to Nick Purves and Ian Lance of RWC Partners, two managers with considerable experience of managing income […]
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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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17 Apr 2020 8 min read
QuotedData’s Investment Companies Quarterly Review – First Quarter 2020
Investment Companies Quarterly Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents In this issue Performance data Positive movers Negative movers Discounts and premiums Getting more expensive Getting cheaper Money in and out Money in Money out Major news stories Upcoming Events New research The legal bit Unprecedented times We have knitted […]
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07 Apr 2020 8 min read
QuotedData’s Investment Companies Roundup – April 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue 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 March: An update note […]
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10 Mar 2020 6 min read
QuotedData’s Economic Roundup – March 2020
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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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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07 Oct 2019 5 min read
QuotedData’s investment companies roundup – October 2019
Investment Companies Roundup Kindly sponsored by Baillie Gifford New research Over September, we published notes on India Capital Growth, Jupiter Emerging & Frontier, International Biotechnology Trust, JPMorgan Russian Securities, Civitas Social Housing, Montanaro European Smaller Companies and JLEN Environmental Assets. We also launched a monthly real estate roundup, beginning with reviews of August and September. In […]
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07 Jun 2019 3 min read
QuotedData’s investment companies roundup – June 2019
Investment Companies Roundup New research Over May, we published notes on Shires Income, Standard Life Private Equity and The North American Income Trust. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – it was notable that risk appetite was down in May as renewed […]
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22 Mar 2019 2 min read
QuotedData’s economic roundup – March 2019
QuotedData’s economic roundup – March 2019 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 sell […]
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13 Mar 2018 1 min read
QuotedData’s Economic round up – March 2018
QuotedData’s economic round up – March 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 sell […]
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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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03 Aug 2017 2 min read
QuotedData’s economic round up – August 2017
QuotedData’s economic round up – August 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 sell […]
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15 Mar 2017 1 min read
QuotedData’s round up of views on the global economy – March 2017
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 any of the companies mentioned. Kindly sponsored […]
News
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21 Mar 2025 3 min read
Temple Bar delivers another year of strong outperformance and proposes dividend uplift
Temple Bar Investment Trust (TMPL) has announced impressive results for the year ended 31 December 2024, delivering a net asset value (NAV) total return of 19.9%, comfortably outperforming its All-Share benchmark, which it says returned 9.5%. The share price total return was 19.1%, reflecting a modest narrowing of the discount to NAV, which stood at […]
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03 Jan 2025 8 min read
QuotedData’s analysts’ picks for 2025
As we begin another year, here at QuotedData, we thought we’d have some fun and challenge our analysts, once again, to come up with some ideas for investment companies that they like and think could do well over the course of the coming year but first, we’re also going to take a look back and […]
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21 Aug 2024 2 min read
QuotedData’s morning briefing 21 August 2024 – TMPL, RSE, GIF
In QuotedData’s morning briefing 21 August 2024: Temple Bar Investment Trust (TMPL) posted a NAV total return of 13.1% for the six month period to 30 June 2024, outperforming the FTSE All-Share Index of +7.4%, as market conditions for value investing improved. The share price total return was +11.0%. Particularly strong returns from portfolio companies […]
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16 Aug 2024 3 min read
Gold medals and UK growth
A lot has been said by some commentators about Great Britain’s 7th placed finish and worst gold medal haul since Athens in 2004 at this year’s Olympics. However, the absolute weighting of golds on the ‘official’ table feels misguided given the often-infinitesimal margins between places on the podium. A total medal count of 65 should […]
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23 Apr 2024 3 min read
Temple Bar’s manager speaks out against Royal Mail bid
Ian Lance, co-manager of Temple Bar, had this to say: We note the statement from the Board of IDS confirming that on 9 April 2024 it received a preliminary and conditional non-binding proposal from EP Group regarding a possible cash offer for the entire issued and to be issued share capital of International Distribution Services […]
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04 Apr 2024 4 min read
Temple Bar makes solid progress in 2023
Temple Bar posted a decent set of results for 2023. NAV and shareholder returns were 12.3% and 12.5% respectively, both well-ahead of the 7.9% return generated by the All-Share Index. The dividend grew by 2.7% to 9.6p. This was not quite covered by earnings, which were 9.3p, but the company still has over £12m of […]
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28 Mar 2024 3 min read
QD view – What goes down must come up?
The UK has become a bit of punching bag in recent times, stumbling from one crisis to another while presiding over an economy stuck in neutral. In many respects, it’s of little surprise its benchmark index has trailed the MSCI All Countries World index by almost 50% over the last five years. Of late, stubborn […]
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15 Mar 2024 4 min read
QD view – Does the UK market need more than the best of British?
The story of the UK equity market over the last decade has few uplifting moments. It has lost 25% of its companies[1], retail investors have pulled out more than £50bn, it has fallen off the radar of many international investors and even domestic companies are seeking to list elsewhere. It has also been a terrible […]
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02 Jun 2023 4 min read
QD view – Can we just stop oil? Contrasting the fortunes of two UK equity income trusts
The recent annual results from CT UK High Income (CHI) and Edinburgh Investment Trust (EDIN) have given us the interesting opportunity to compare the views of two managers targeting the UK equity income sector. Since the pandemic lows reached towards the end of 2020, the two funds have seen a wide divergence in performance with […]
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23 Mar 2023 4 min read
Royal Mail woes hold back Temple Bar
Temple Bar has published results for the year ended 31 December 2022. Unfortunately, the trust underperformed the All-Share over the year, returning -2.0% in NAV terms versus +0.3% for the index. The share price did a bit better with a return of +3.6%, however, helped by a narrower discount. The chairman notes that, since Redwheel […]
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22 Dec 2022 1 min read
QuotedData’s morning briefing 22 December 2022
In QuotedData’s morning briefing 22 December 2022: Temple Bar (TMPL) has appointed Frostrow as its AIFM (with effect from 1 July 2023). Redwheel will continue to manage the assets of the trust, but Frostrow will take on responsibility for marketing and distribution. Palace Capital (PCA) has sold £7.6m of property since 30 September 2022, reducing […]
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19 Aug 2022 1 min read
QuotedData’s morning briefing 19 August 2022
In QuotedData’s morning briefing 19 August 2022: Temple Bar (TMPL) has upped its full year dividend forecast from 8.2p to 9.0p, as revenue has been better than expected. The trust outperformed the All-Share over the six months ended 30 June 2022, returning -4.0% to the index’s -4.6%. Shareholders ended up with a return of +0.2% […]
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12 May 2022 1 min read
QuotedData’s morning briefing 12 May 2022
In QuotedData’s morning briefing 12 May 2022: Temple Bar (TMPL) is splitting its shares. With effect from tomorrow, a holder of one share will own five shares in the trust and the share price will adjust accordingly. If you hold your shares evidenced by paper certificates rather than through an online trading account, new share […]
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24 Mar 2022 5 min read
Temple Bar sets up share split after good 2021
Temple Bar beat its benchmark over 2021 – the first full calendar year under Redwheel’s management – delivering a return on NAV of 24.3% against 18.3% for the All-Share. The total dividend for the year was 39.5p, up from 38.5p for 2020. A small part of this has, once again, been paid from revenue reserves. […]
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24 Sep 2021 3 min read
QD view – ranking UK equity income trusts
We had results this week from two of the giants of the UK equity income sector. The City of London Trust, which has been managed for 30 years by Job Curtis at Janus Henderson, celebrated its 55th consecutive year of dividend increases. Rival, Murray Income can ‘only’ boast a 48-year track record of consecutive dividend […]
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03 Sep 2021 1 min read
QuotedData’s weekly news show 3 September 2021
QuotedData’s weekly news show 3 September 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana and Richard Williams covered the week’s top stories: Acorn Income Blackfinch Renewable European Income Responsible Housing REIT Watch it again here This week’s interview […]
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20 Aug 2021 3 min read
QD view – growth works, value works, cash not so good
At QuotedData, we don’t tend to make too much of a fuss about interim reports from investment companies. However, with the summer lull upon us, we have had a closer look than we might otherwise have at some interim statements this week and some interesting things have emerged. Good returns from growth-focused private equity Part […]
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2 min read
Good start for RWC at Temple Bar
Good start for RWC at Temple Bar – Temple Bar (TMPL) has announced its interim results for the half-year ended 30 June 2021. The first half of 2021 saw TMPL perform extremely well as mispriced Value stocks generally did significantly better than the rest of the UK market. For the six months to 30 June 2021, the […]
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23 Mar 2021 2 min read
Temple Bar looks to brighter future
Temple Bar looks to brighter future – Temple Bar Investment Trust has published results for the year ended 31 December 2020. The first nine months were a difficult period for the trust – seeing it lose its manager and underperform significantly. Alastair Mundy’s retirement due to ill health prompted a review of management arrangements. RWC Partners […]
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12 Mar 2021 2 min read
QD view – keeping the dividends flowing
When we went into the pandemic panic last year, many trusts had revenue reserves equivalent to between half and a whole year’s dividend. Link Group reckoned that about 44% of the UK market’s income was lost in 2020, pushing the total amount of income available back down to 2011 levels. However, most UK equity income […]
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25 Sep 2020 1 min read
QuotedData’s weekly news show 25 September 2020
In QuotedData’s weekly news show 25 September 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
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2 min read
Where has my income gone?
Where has my income gone? is a question many investors are asking as UK dividends are cut but at least investment trusts have revenue reserves to draw on. It looks as though we are about to lose another Dividend Hero as Temple Bar says it will cut its dividend by around 25% (to 38.5p from […]
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23 Sep 2020 2 min read
Temple Bar appoints RWC Asset Management and sticks with value style
Following on from the announcement by Temple Bar (TMPL), on 2 September, that it had delayed the release of its interim results due to an ongoing review of its investment management arrangements, the fund has entered into a heads of terms agreement with RWC Asset Management (RWC). The portfolio will be managed by the long-term partnership […]
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02 Sep 2020 2 min read
QuotedData’s morning briefing 2 September 2020
In QuotedData’s morning briefing 2 September 2020: Temple Bar (TMPL) briefed that as per their announcements on 20 April and 9 June 2020, the board has instigated a review of the management arrangements. They anticipate that this review will be completed shortly, and the publication of the interim results has been delayed in order to […]
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01 May 2020 2 min read
Temple Bar suffers Shell shock
Shell has cut its dividend for the first time since the Second World War. This is bad news for many UK equity income trusts including Temple Bar. The quarterly payment is shrinking from 47 cents to 16 cents. The announcement reads as though this may be a long-term measure rather than a temporary one. Shell […]
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21 Apr 2020 1 min read
QuotedData’s morning briefing 21 April 2020
In QuotedData’s morning briefing 21 April 2020, as US oil prices go negative for the first time: Yesterday Big Yellow announced plans to raise up to £80m via a placing of shares. It wants the money to buy land to expand its portfolio. It has 13 development sites, three of which are soon to complete (adding […]
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20 Apr 2020 1 min read
Temple Bar serves protective notice to manager Ninety One UK
Last Friday, it was announced that Alastair Mundy, the individual manager of Temple Bar (TMPL), had been given an extended leave of absence by Ninety One (TMPL’s manager), for health reasons. Click here for our full story from Friday. 12 months notice served Further to the announcement made last week, the board of TMPL has concluded […]
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17 Apr 2020 1 min read
Temple Bar’s Alastair Mundy takes extended leave of absence
Temple Bar has announced that the respected value manager Alastair Mundy, who has been the individual portfolio manager of the Trust since 2002, has been given an extended leave of absence by the trust’s manager, Ninety One, for health reasons. With immediate effect, Alessandro Dicorrado and Steve Woolley have been appointed by Ninety One as […]
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25 Mar 2020 1 min read
Update from Temple Bar as it sells least cyclical holdings
The title of this article was changed on 26 March 2020 to correct an error spotted by one of our readers. The UK equity income sector investment company, Temple Bar (TMPL), noted the following in its update to the market: “Going into 2020 the TMPL portfolio was almost fully invested, including borrowings. The manager believed, […]
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19 Feb 2020 1 min read
QuotedData’s other news 19 February 2020
In QuotedData’s other news 19 February 2020 JPMorgan Japan Smaller (JPS) is cutting its management fee – from 1st April 2020, the fee will be charged at 1% on the NAV up to £150m and 0.75% (previously 0.80%) thereafter. Additionally, the £200,000 a year company secretarial fee will be removed from the same date. This is estimated […]
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21 Feb 2019 1 min read
Temple Bar makes Peter Lowery deputy manager
Temple Bar makes Peter Lowery deputy manager – Temple Bar has announced results for the year ended 31 December 2018. The NAV total return was -11.2%, worse than the return on the All-Share Index which was -9.5%. The dividend has been hiked by 10%, emphasising Temple Bar’s AIC ‘dividend hero’ status. Alastair Mundy has managed the […]
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19 Jul 2018 1 min read
Investment Trust Insider on how to grow trusts
Investment Trust Insider on how to grow trusts James Carthew: imponderable questions in quest for scale Last week I addressed the uphill battle Ashoka India Equity (AIE) faces if it wants to expand, having raised just £46.5 million in its flotation. It is by no means the smallest fund out there, however. Many of the very smallest funds […]
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20 Feb 2018 1 min read
Temple Bar says value style still holding it back
Temple Bar says value style still holding it back – Over the course of 2017, the total return on the net assets of Temple Bar was 9.7%, underperforming the total return of the All Share Index of 13.1%. Three interim dividends of 8.33p and a final dividend payment of 17.48p per share give an increase in the total dividend […]
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24 Oct 2017 1 min read
Temple Bar issues 30-year debt
Temple Bar issues 30-year debt – The Board of Temple Bar Investment Trust announces that it has agreed a £25m fixed rate 30 year Private Placement Note at a coupon of 2.99%. The funding date will be 24 October 2017 and this financing will be due for bullet repayment on 24 October 2047. The interest payment […]
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03 May 2017 2 min read
14th consecutive year of outperformance for BlackRock Smaller
For fourteen consecutive years BlackRock Smaller Companies has outperformed its benchmark and increased its dividend. Over that period, the NAV has grown nearly ten-fold whereas the benchmark has almost quadrupled. The compound annual increase in dividends paid over the past five years has been 20% per annum. During the year to 28 February 2017, the NAV increased […]
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20 Feb 2017 1 min read
Temple Bar hails return of form for value investing
The total return on the net assets of Temple Bar in 2016 was 20.4% which compares with a total return of the UK market of 16.8%. There have been three interim dividend payments during the year each of 8.09p per share and the directors are now recommending a final dividend payment for the year ended […]
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06 Feb 2017 1 min read
14 investment trusts for income and growth in 2017
Investors looking forward to a period of calm in 2017 might be disappointed, but David Prosser has the trusts experts are backing to navigate further storms. Having just been through a year of unprecedented political upheaval that sent financial markets spinning, many investors will be assuming 2017 cannot possibly be so tumultuous. The reality, however, […]
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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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25 Jul 2016 1 min read
Temple Bar hit by Brexit
During the six month period to 30 June 2016 Temple Bar generated a net asset value total return of 3.8%, slightly underperforming the benchmark FTSE All Share total return of 4.3%. A notable feature of the period was the long awaited out-performance of larger companies relative to their smaller brethren; the FTSE 100 Index delivered […]
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24 Feb 2016 1 min read
Temple Bar posts modest underperformance for 2015
The total return on net assets of Temple Bar in 2015 was -1.0% which compares with a total return for the FTSE All Share Index of 1.0%. This is the first year in which the Company has paid dividends on a quarterly basis. There have already been three interim dividend payments of 7.93p per share […]
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21 Jul 2015 1 min read
Temple Bar beats FTSE All-Share during H1
Temple Bar, managed by Alastair Mundy (pictured) has released its interim results for the half year ended 30 June 2015. During this time, the trusts NAV total return of 4.5% beat that of the FTSE All-Share Index of 1.5%. The biggest contributor during the period was TNT Express, which received a bid from Fedex, whilst building products […]
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24 Feb 2015 1 min read
Temple Bar sitting on cash
Temple Bar has published results for the year ended 31 De ember 2014. Over the period the fund returned -1.7% on net assets, behind the 1.2% return on the fund’s benchmark index, the FTSE All-Share. The fund borrowed £50m for 15 years in 2013 but still hasn’t spent any of the money on equities, the […]
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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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22 Jul 2014 1 min read
Temple Bar Investment Trust : TMPL – interims
Over the first half of 2014 Temple Bar Investment Trust, managed by Alastair Mundy (pictured), generated a total return on net assets of 0.3% – slightly behind the return on the FTSE Al-Share Index of 1.6%. the interim dividend has been increased by 3% to 15.55p. The Board has announced that, with effect from January 2015, […]
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12 Feb 2014 1 min read
Temple Bar : TMPL – Final results
Temple Bar has released its results for 2013. Over the year the total return on NAV was 31.4%, well ahead of the total return on the FTSE Al-Share Index of 20.8% – a good result for the company’s manager, Alastair Mundy. TMPL has also increased its dividend by 3% despite a fall in distributable income […]
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25 Mar 2025 1 min read
ISA ideas: short-term plays and long-term holds
by Jennifer Hill, from interactive investor, 25th March 2025: Markets move in cycles. At any point in time certain areas fly high while others are in the doldrums It is no surprise, then, that infrastructure and renewables funds are among the most popular tactical plays today.. There are plenty of opportunities around. We asked eight […]
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15 Jan 2025 1 min read
Investment trust insider on rising bond yields
Investment trust insider on rising bond yields – James Carthew: Higher bond yields deal blow to small-cap recovery Sliding sterling and elevated gilt yields have made for a painful month for small-cap and renewables trusts, and investors now need to be patient. I am going to press pause on the Saba saga this week (although […]
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13 Nov 2024 1 min read
Our trust income portfolios: changes for the year ahead
by Dave Baxter, Investors’ Chronicle, November 12, 2024: The past year has been an extremely strong one for markets, with many of the difficulties that emerged back in 2022 finally starting to abate for investors.. This ‘Goldilocks’ (ie, just right) backdrop has certainly worked out well for our two investment trust income portfolios. The two […]
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04 Nov 2024 1 min read
Investment trust insider on Henderson International Income’s value versus growth choice
James Carthew: HINT chases growth just as value breaks through Henderson International Income (HINT) is supplementing dividends with payments out of capital to allow it to hold more low-yielding technology stocks. Is the move mistimed? Henderson International Income (HINT) has announced that following a spate of poor performance it intends to follow peers such as […]
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21 Oct 2024 1 min read
The battle for value: Temple Bar versus Fidelity Special Values
By Matteo Anelli, senior reporter, Trustnet,18 October 2024: Value investors don’t have as broad a choice as growth enthusiasts when it comes to selecting funds and trusts, with the number of active managers buying unloved stocks dwindling after almost a decade of growth superiority. Two prominent names are Ian Lance and Alex Wright, managers of […]
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16 Sep 2024 1 min read
Investment trust insider on a shrinking sector
Investment trust insider on a shrinking sector – James Carthew: We might regret what’s lost in the trust bloodbath Four more investment companies – Aquila European Renewables, Ecofin US Renewables, Gulf Investment Fund and Keystone Positive Change – are heading for the exit. The bloodbath in the investment companies sector seems to be getting worse. […]
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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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03 Oct 2023 1 min read
Concentrated portfolios: 11 funds and trusts favoured by the pros
by Jennifer Hill from interactive investor, 3rd October 2023: As the old adage goes, one must concentrate to build wealth and then diversify to protect wealth. However, the benefits of diversification can diminish rapidly after you reach around 30 stocks. This concept can be traced back to a paper published by Lawrence Fisher and James […]
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08 Sep 2023 1 min read
IC Top 50 Funds 2023: the best funds to buy
By Dave Baxter, Investors’ Chronicle, September 7, 2023 Holding an active fund can sometimes feel like a thankless task. Many have failed to outperform markets in both good times and bad, and with thousands in existence the choice on offer can seem overwhelming. But there are still rewards to be had: the best have outperformed […]
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01 Sep 2023 1 min read
How to analyse investment trust gearing in the era of rising interest rates
By Jean-Baptiste Andrieux, Reporter, Trustnet, 31 August 2023: The ability to borrow money is one of the weapon in an investment trust’s arsenal. In many cases, it has contributed towards the outperformance of investment trusts relative to their equivalent open-ended versions, as they take out money to invest, making higher returns each year above the […]
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31 Jul 2023 1 min read
Experts say tide is turning on UK shares – now the world’s cheapest
By ROSIE MURRAY-WEST, Mail on Sunday, 30 July 2023: Investors in British companies have had a tough time this year. They have endured a rollercoaster ride of stomach-lurching rises and falls if they invested in the FTSE 100 list of the UK’s 100 largest companies – and all they would have to show for it […]
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22 Jun 2023 2 min read
Home Truths
James Carthew for Portfolio Adviser, 21 June 2023: For many years, there was a tendency among UK-based investment managers and financial advisers to overweight domestic stocks within client portfolios. As a result, we saw a proliferation of investment companies with a narrow focus on UK-listed businesses. Today, 54 investment companies have a listed UK equity […]
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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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20 Mar 2023 1 min read
Buy and hold versus changing style: which fund approach is best?
by Jennifer Hill from interactive investor, 20 March 2023: Some fund managers stick to their knitting irrespective of the wider macroeconomic backdrop; others have more flexibility to change their strategy to respond to market conditions. But which approach is best? Are investors better sticking with funds that adopt a long-term buy and hold strategy or […]
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02 Mar 2023 2 min read
The trusts to buy for rising dividends
By Dave Baxter, Investors’ Chronicle, February 28, 2023: High dividend yields can be hard to resist, and there are many currently on offer in the investment trust universe. But a high yield can reflect recent price volatility, as with embattled Home REIT (HOME), or be a result of an especially esoteric portfolio, an example being […]
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04 Nov 2022 1 min read
As investors turn away from chasing growth, these income trusts could profit
By ANGHARAD CARRICK FOR THIS IS MONEY, 3 November 2022: As some savings rates near 5 per cent more potential investors might be tempted to park their cash there instead of in the stock market. But with inflation continuing to run hot, there is good reason to consider adding dividend-paying investments in your portfolio, as […]
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21 Sep 2022 1 min read
Top 50 Funds 2022: Equity income
By Dave Baxter, Investors’ Chronicle, September 8, 2022: UK EQUITY INCOME (4 FUNDS) An area of focus for many of our readers, UK equity income has been a good port in a storm thanks to the composition of the FTSE 100, while dividends have also made a strong recovery from the dark days of 2020. […]
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28 Jun 2022 1 min read
Have growth and value fund pairs outperformed the market?
by Jennifer Hill from interactive investor, 23rd June 2022: Last year we asked experts to name value and growth fund pairs to navigate the market rotation. The tactic has not yet paid off, but should investors stick with them?.. The sharp reversal in fortunes highlights the folly of pinning your colours to a single mast. […]
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04 Apr 2022 1 min read
Amazon and Google are slashing their share prices… but don’t worry – you WON’T lose money in share split
ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 3 April 2022: You would think that a rising share price could only be good news for a company and its shareholders. But not always. In some cases shares can get so costly that it is difficult for new investors to buy in… To counter the problem of rocketing […]
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22 Feb 2022 1 min read
Bargain Hunter: 10 trusts that have moved from premiums to discounts
These trusts have seen their premiums vanish since the start of the year as growth shares lost ground. Kyle Caldwell from interactive investor 17th February 2022: Given all the volatility in the first six weeks of 2022, a surprising statistic is that the number of equity investment trusts trading on a premium to their net […]
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23 Dec 2021 1 min read
2022: Picking winning investment trusts against a backdrop of uncertainty
James Carthew, Investment Week, 14 December 2021 Picking winners for next year is hard as, if Omicron turns out to be mild, we will be back to a faster growth, inflationary economy with possible rate rises and perhaps another leg up for value stocks. Alternatively, if we lose another winter to lockdowns, investors will be […]
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1 min read
The Investment Trusts Handbook 2022: All Change, Please
JAMES CARTHEW explores when and why boards choose to change their fund manager. In my opinion, one of the greatest strengths of the investment companies industry is its system of governance. Boards of independent directors work for and on behalf of investors. Boards’ ability to fire underperforming managers helps to keep these managers on their […]
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20 Dec 2021 1 min read
Investment trust insider on 2022
Investment trust insider on 2022 – James Carthew: Anomalies and opportunities on next year’s horizon Many of the themes that we had going into 2021 look likely to persist into 2022. Covid has not gone away, despite the success of vaccinations. God forbid we end up with lockdowns again, but this is quite possible. This […]
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06 Dec 2021 2 min read
As stock markets stutter, there are bargains on offer from investment trusts
how to spot a discounted fund bargain By ROSIE MURRAY-WEST, FINANCIAL MAIL ON SUNDAY, 4 December 2021 Share prices have fallen sharply in recent days in response to fears over the potential economic disruption that the new Covid variant Omicron could cause. While shares in specific sectors such as airlines and travel have been hit […]
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22 Nov 2021 1 min read
What is the future of trust dividend heroes following consolidation?
Kathleen Gallagher, Investment Week, 17 November 2021• 2 min read In the past 18 months, four trusts have fallen off the Association of Investment Companies’s (AIC) dividend hero list for various different reasons. However, investment trust experts are cautiously optimistic the list will grow over the next few years, with the main barrier to that […]
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15 Nov 2021 2 min read
Investment trusts rediscover their roots with a 21st century twist
The listed fund vehicles are financing innovation in clean fuels, space and digital infrastructure Mary McDougall, Financial Times, NOVEMBER 12 2021 Investment trusts seem to be coming full circle. For most of the 20th century, they gradually moved away from their origins as entrepreneurial schemes investing in specific targets, often in Britain’s colonies, to running […]
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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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07 Sep 2021 2 min read
Why you shouldn’t give up on Temple Bar despite a rough six mont
The trust has fallen out of the FTSE 250 index, but market commentators have faith in the new management team. By Jonathan Jones, Editor, Trustnet, 07 September 2021 It has been a tumultuous year for the RWC Temple Bar Investment Trust after fund manager Alistair Mundy stepped down last year to pursue a career in teaching. The board […]
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09 Jun 2021 1 min read
Turnover in focus during pandemic
Which trusts manoeuvred during 2020 and which stood their ground? Kathleen Gallagher, Investment Week, 08 June 2021 • 4 min read Several investment trusts overhauled their portfolios during the market volatility of 2020 as managers chose to revamp their holdings and take advantage of depressed markets. However, other managers saw this strategy as counter-productive and […]
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31 Mar 2021 1 min read
Income trusts pass the covid test
Income trusts pass the covid test, but for how long can they deliver? Citywire Wealth Manager, Jennifer Hill, 30 March 2021 UK equity income trusts have weathered the dividend drought far better than their open-ended counterparts, an achievement largely down to investment trusts’ ability to draw on revenue reserves. UK dividends plummeted 44% last year […]
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29 Mar 2021 1 min read
Mix and match to profit from recovery for value funds and trusts
Mix and match to profit from recovery for value funds and trusts by Jennifer Hill from interactive investor | 24th March 2021 10:23 Riding the resurgence of value as an investment style without throwing caution to the wind means holding both value and growth funds… While the powerful wave of returns from growth stocks appears to have broken recently amid […]
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24 Mar 2021 1 min read
Investment trust shareholder rights a beginner’s guide
Investment trust shareholder rights: a beginner’s guide by Kyle Caldwell from interactive investor | 23rd March 2021 14:04 We explain everything investors in investment trusts need to know about their shareholder rights and why voting matters. One of the longstanding, but perhaps understated structural advantages of investment trusts versus funds is their independent board of directors. It is their job […]
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18 Jan 2021 1 min read
Big investment trust themes to watch in 2021
Big investment trust themes to watch in 2021 by Faith Glasgow from interactive investor | 11th January 2021 12:22 We highlight the trends and themes for investment trust fans to keep an eye on over the next year… Board activity One of the most significant themes of 2020 has been the run of manager changes, closures and consolidations in the […]
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07 Jan 2021 1 min read
Questions of Trust
QUESTIONS OF TRUST In: Portfolio Adviser, The Professionals’ Guide to Value Investing James Carthew, Director, QuotedData If you believe last November’s bounce in value stocks heralds the start of a renaissance for the strategy, who are the potential beneficiaries in the investment trust sector? Last year turned out to be a bumper one for all […]
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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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30 Sep 2020 1 min read
Investment trust insider on manager change at Temple Bar
Investment trust insider on manager change at Temple Bar – James Carthew: Temple Bar board good value, even if investors want style change There is a lot resting on the decision of Temple Bar (TMPL) to appoint another value fund manager – RWC Partners – to replace Alastair Mundy. Shareholders in the UK equity income trust […]
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28 Sep 2020 1 min read
Temple Bar applauded for sticking with value
Temple Bar applauded for sticking with value as Alastair Mundy exits and RWC takes over By Jessica Tasman-Jones, 23 Sep 20 Ninety One reportedly had high hopes of keeping mandate despite star manager leaving for teaching career The board of the Temple Bar investment trust have been applauded for sticking with unloved value as it hands […]
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27 Apr 2020 1 min read
Heavyweight UK equity income trusts look for new homes
Consolidation expected as heavyweight UK equity income trusts look for new homes Radical changes could be on the horizon The UK equity income sector could see consolidation in 202 David Brenchley, Investment Week, 23 April 2020 UK equity income investment companies could see some consolidation, according to investment trust analysts, as two of the […]
