Overview
Diverse Income Trust’s investment objective is to provide shareholders with an attractive level of dividends coupled with capital growth over the long-term. The company invests primarily in quoted or traded UK companies with a wide range of market capitalisations and a long-term bias toward small and mid cap equities. It may also invest in large cap companies, including FTSE 100 constituents, where it is believed that this may increase shareholder value. Portfolio risk is mitigated by investing in a diversified spread of investments. Typically it is expected that the portfolio will be made up of between 80 to 120 investments, most of which represent no more than 1.5 per cent of the value of the portfolio as at the time of acquisition. The company’s policy is to pay dividends on a quarterly basis. The company plans to maintain and grow the dividend in terms of pence per share going forward.
The fund’s manager’s website can be found here.
Fundamentals
Price
Research History
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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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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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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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11 Sep 2019 3 min read
QuotedData’s economic roundup – September 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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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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14 Sep 2018 2 min read
QuotedData’s Economic round up – September 2018
QuotedData’s Economic round up – September 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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1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 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 August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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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 […]
News
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20 Feb 2025 2 min read
QuotedData’s morning briefing 20 February 2025 – JGC, DIVI, NESF, CRS, HEIT, RGL, SWEF
In QuotedData’s morning briefing 20 February 2025: Jupiter Green (JGC) has updated the timetable for its proposed reconstruction. The last day of dealings in its shares will be 4 March 2025. Diverse Income (DIVI) says that Gervais Williams and Claire Long will update investors via a live presentation on 6 March 2025 at 11am. The […]
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20 Aug 2024 2 min read
Diverse Income hopes that the tide has turned in its favour
Diverse Income Trust has published results for the year ended 31 May 2024. The NAV total return for the period was 16.5%, which it compares to 15.6% for a peer group selected by the trust, and 15.6% for the Deutsche Numis All-Share Index. (It also publishes an adjusted NAV which takes account of the performance […]
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14 Feb 2024 1 min read
QuotedData’s morning briefing 14 February 2024 – DIVI
In QuotedData’s morning briefing 14 February 2024: Diverse Income Trust (DIVI) released its half year report for the period ended 30 November 2023. The Trust’s NAV total return was down 1.3% over the half year, in contrast with the total return of the Deutsche Numis All-Share, Index, (dominated by returns on the largest stocks) which […]
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08 Aug 2023 2 min read
Small cap exposure weighs on the Diverse Income Trust
The Diverse Income Trust (DIVI) released its annual results for the year ending 31 May 2023. NAV total return was -16.2% compared with a decrease in the Numis All-Share Index of -0.4%. The company paid 4.05p of ordinary dividends for the year, compared with 3.90p in the previous year, an increase of 3.8%. The share […]
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06 Apr 2023 1 min read
QuotedData’s morning briefing 6 April 2023
In QuotedData’s morning briefing 6 April 2023: JPMorgan Japanese (JFJ) has a new revolving credit facility of 10bn yen with the capacity to increase this by a further 2bn yen. Diverse Income (DIVI) has reminded shareholders that they can, if they wish, take advantage of its annual redemption facility at the end of May each […]
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09 Aug 2022 4 min read
Small cap bias drags down Diverse Income
Diverse Income’s results for the financial year ended 31 May 2022 show it delivering a return on NAV of -3.4%, some way behind the +4.7% return generated by the Numis All-Share Index. A widening discount left shareholders with a return of -10.5%. The board views the recent widening as temporary but remains willing to use […]
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06 Jun 2022 2 min read
QuotedData’s morning briefing 6 June 2022
In QuotedData’s morning briefing 6 June 2022: Atrato Onsite Energy (ROOF) has posted its interim results for the period from its launch on 16 September 2021 to 31 March 2022. ROOF raised £150m at IPO in November 2021, and has since avoided 18 tonnes of CO2 equivalent. Installed operation capacity ended the period at 976kW […]
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12 Apr 2022 1 min read
QuotedData’s morning briefing 12 April 2022
In QuotedData’s morning briefing 12 April 2022: Diverse Income Trust is asking shareholders whether they want to take advantage of its annual share redemption facility. However, as the announcement points out, the discount is already narrow. Shareholders have until 3 May 2022 to submit redemption requests. Cash would hit accounts on 16 June or thereabouts. […]
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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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10 Aug 2021 2 min read
Diverse Income approach pays off
Diverse Income approach pays off – the impact of COVID-19 hit many large dividend paying companies last year. By diversifying its portfolio across both large and small companies, Diverse Income was able to emerge from this period with strong results. For the year ended 31 May 2021, Diverse Income Trust reports an NAV total return to […]
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13 May 2021 1 min read
QuotedData’s morning briefing 13 May 2021
In QuotedData’s morning briefing 13 May 2021: Hipgnosis Songs Fund has announced the acquisition of a music catalogue from award-winning producer, Andy Wallace, who has collaborated with Nirvana, Paul McCartney, Coldplay, Foo Fighters and many more. The catalogue contains 17,242 songs which brought in a revenue of $874,000 in 2020 alone. JLEN Environmental Assets Group has […]
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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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18 Aug 2020 3 min read
Diverse Income’s strengths shine
Diverse Income’s strengths shine – Diverse Income Fund’s results covering the year ended 31 May 2020 show it beating comparative indices by some margin. Over the year, Diverse Income returned -2.5% while the All-Share returned -11.2%. Total dividend for the year was 3.7p, up from 3.65p. £2.5m of dividends paid to shareholders came from revenue reserves. […]
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05 May 2020 1 min read
QuotedData’s morning briefing 5 May 2020
In QuotedData’s morning briefing 5 May 2020 Diverse Income received redemption requests from holders of 20.2m shares (5.35%) of the company. The price that they get for their shares will be revealed later this month. That is not a bad result given the market backdrop, but Diverse Income has turned out to be one of the […]
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02 Aug 2019 2 min read
QuotedData’s other news 2 August 2019
In QuotedData’s other news 2 August 2019 Capital and Regional has provided a trading update for the first half of 2019, ahead of its half-year results, which will follow on 11 September. The company says that it is seeing continued evidence that its community strategy is working; strong leasing momentum with new lettings undertaken at […]
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4 min read
Diverse Income has a challenging year
Diverse Income Trust’s annual results, for the year ended 31 May 2019, suggest it has been a challenging year for the trust. During the period, the trust’s NAV fell by 5.9% on a total return basis, while its share price fell by 13.6% in total return terms, reflecting a widening of the discount during the […]
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03 Aug 2018 1 min read
Better second half for Diverse Income but annual result still lags All-Share
Better second half for Diverse Income but annual result still lags All-Share – Over the year to the end of May 2018, Diverse Income Trust generated a return on NAV of 5.2%, a little less than the return on the All-Share Index of 6.5%. total dividends rose by 13.3% to 3.4p and there is also a special dividend of 0.23p. […]
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18 Sep 2017 1 min read
Investment trust insider on UK equity income
James Carthew: UK income trusts standing out from the crowd What makes an investment trust stand out from the crowd? It is a question that preoccupies many boards and it is relevant in a time when many investors are being warned off me-too funds, quasi-index trackers and even active investing. Two high-profile funds in the […]
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04 Aug 2017 2 min read
Diverse Income underperformance attributed to lack of AIM growth stocks
Diverse Income underperformance attributed to lack of AIM growth stocks – Diverse Income Trust has published results for the year ended 31 May 2017. The net asset value rose by 13.6% from 91.02p to 103.43p over the year. This compares with an increase in the All-Share Index of 20.0% over the year to 31 May 2017. […]
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12 Aug 2016 1 min read
Diverse Income to get more diversified
Over the year to 31 May 2016, Diverse Income Trust’s NAV per share rose from 87.03p to 91.02p (+4.6%). This compares with a fall in the FTSE All-Share Index of 9.7% – small cap.s outperformed – the FTSE SmallCap (excluding Investment Companies) Index ended the year to 31 May 2016 down just 2.5% and the FTSE AIM All-Share […]
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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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02 Feb 2016 1 min read
Diverse Income well ahead of UK market
Diverse Income’s interim results, covering the six months ended 30 November 2015, show the fund generating a return on net assets of 6.4% and a return to shareholders of 7.0%. They also declared two quarterly dividends of 0.65p each. The Board is rebalancing the quantum of the four quarterly dividends to make them more equal […]
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18 Aug 2015 2 min read
Diverse Income caps expansion plans as it outperforms again
Diverse Income has reported results for the year ended 31 May 2015. Over the period the total return on net assets was 8.9% which compares favourably to a 7.5% return on the FTSE All-Share Index an 8.6% return on the FTSE Small Cap (excluding Investment Companies) Index and -4.0% return on the AIM All-Share Index. The fund […]
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29 Jan 2015 1 min read
Diverse Income held back by small cap. weakness
Diverse Income Trust interim results for the six months ended 30 November 2014 show the fund generating a return on net assets of -3.2% and a return to shareholders of -1.9%. the first half dividend rose from 0.8p to 0.9p. The fund is skewed towards smaller companies relative to the FTSE All-Share Index and this accounts […]
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12 Aug 2014 1 min read
Diverse Income races ahead, leaves All Share standing
DIVI : Diverse Income races ahead, leaves All Share standing Diverse Income Trust has published its third set of final accounts. These cover the year that ended on 31 May 2014. over that period Diverse delivered a return on net assets of 26.1%. The level of the premium was unchanged on the year and so […]
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27 Jan 2014 1 min read
Diverse Income : DIVI – half year results
DIVI’s interim accounts covering the six months ended 30 November 2013 show its net asset value rising by 19.2% – a good result when compared to the FTSE All-Share Index (up 2.1% or the FTSE Small cap ex Investment companies (up 15.9%). This translated into a 21.6% return for shareholders as the shares finished the […]
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23 Jan 2014 1 min read
F&C Managed Portfolio : FMPI – half yearly report
FMPI has announced its interim results covering the six months ended 30 November 2013. The net asset value returns for the period were 2.9% for the Income shares and 7% for the Growth shares. This compares to a 3.9% return on the FTSE All-Share Index and 3.1% on the FTSE Equity Investments Index. The Board say […]
Upcoming Events
Videos
In The Press
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15 Jul 2024 1 min read
Investment trust insider on small caps
Investment trust insider on small caps – James Carthew: The world can’t be mean to small-caps forever The dominance of mega-cap tech stocks has exacerbated the underperformance of smaller company funds, but history suggests this should change. Mean reversion, the tendency for asset prices to return to their long-term average, is a wonderful thing. However, […]
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12 Jun 2023 1 min read
Bargain Hunter: sizing up ‘cheap’ investment trusts on 5%-plus yields
by Kyle Caldwell from interactive investor, 8 June 2023: For investment trust fans now is one of the best opportunities over the past decade to try and pick up a bargain, as the chart below from stockbroker Numis shows. The average equity investment trust is trading on a discount a smidge over 10%, while those […]
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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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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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29 Jul 2020 1 min read
Thirsty for income?
Thirsty for income? Here’s how to find a cash oasis in the dividend desert and position your portfolio By ROSIE MURRAY-WEST FOR THE MAIL ON SUNDAY PUBLISHED: 22:26, 25 July 2020 | UPDATED: 10:15, 26 July 2020 Obtaining a nice, safe income stream used to be one of the main reasons for becoming an equity investor. But not any longer. […]
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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 […]
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01 Apr 2020 1 min read
Investment trusts to weather the dividend drought
The Big Theme Investment trusts to weather the dividend drought By Dave Baxter, Investors Chronicle, 1 April 2020 The coronavirus pandemic has been disastrous for income investors. Falling asset prices make it a dangerous time to take money from your portfolio and interest rate cuts have restricted yields available. Even more worryingly, the economic uncertainty induced by the current […]
