Overview
The Brunner Investment Trust aims to provide its shareholders with growth in capital and dividends over the long term and to be an efficient and cost-effective way to gain global investment exposure. It aims to invest in high quality UK and international growth companies.
Brunner has an interesting history as it was formed from the Brunner family’s interest in the sale of Brunner, Mond & Co, the largest of the four companies which came to form ICI in 1926
The fund’s website can be found here.
Fundamentals
Price
Research History
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09 Mar 2023 64 min read
QuotedData’s Economic and Political Monthly Roundup March 2023
Economic and Political Monthly Roundup Investment companies | Monthly | March 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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19 Feb 2021 1 min read
Interview with Matthew Tillett from The Brunner Investment Trust
In this week’s show, James Carthew talked to Matthew Tillett from The Brunner 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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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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15 Aug 2018 1 min read
QuotedData’s Economic round up – August 2018
QuotedData’s Economic round up – August 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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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 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 June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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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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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 […]
News
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13 Feb 2025 2 min read
Brunner’s marketing push transformed its prospects
Brunner has published results covering the 12 month period ended 30 November 2024. The NAV return for the period was 17.9%, underperforming its benchmark (70% FTSE World Ex. UK / 30% FTSE All-Share), which returned 23.6%. However, a strongly narrowing discount meant that the share price return was 39.3%. Addressing this underperformance, the managers said: “Most […]
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15 Jul 2024 1 min read
QuotedData’s morning briefing 15 July 2024 – BUT, HEFT/HET
In QuotedData’s morning briefing 15 July 2024: Brunner (BUT) has published its interim results for the six months ended 31 May 2024. BUT provided an NAV total return of 12.8% (with debt at fair value) underperforming its composite benchmark (70% FTSE World Index Ex UK and 30% FTSE All-Share Index with net dividends reinvested), which […]
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17 May 2024 3 min read
QD view – Family fortunes
It is not a bad rule of thumb to invest in a similar way to people who already have a lot of money. Therefore, the logic of investing alongside in one of the investment trusts where a wealthy family has a large shareholding seems inescapable. But investors need to ensure their interests are looked after […]
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03 May 2024 1 min read
QuotedData’s weekly news show 3rd May 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aberforth Split Level Income (0:33) • Chrysalis (6:24) Andrew McHattie highlighted a number of funds that were looking unusually cheap or expensive (10:24). This week’s interview […]
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16 Feb 2024 1 min read
QuotedData’s weekly news show 16th February 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Brunner (0:38) • Tritax Big Box REIT & UK Commercial Property (9:19) This week’s interview was with Richard Hulf from HydrogenOne Capital – watch it again […]
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14 Feb 2024 1 min read
Another solid year for Brunner
Brunner Investment Trust (BUT) released its annual results for the period ended 30 November 2023. The company’s NAV total return was 8.7%, versus 5.5% for the composite benchmark (70% FTSE World Ex. UK / 30% FTSE All-Share). This marks the 5th consecutive year of outperformance of the benchmark by the trust. Despite the outperformance, the […]
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18 Jul 2023 1 min read
QuotedData’s morning briefing 18 July 2023
Brunner Investment Trust (BUT) provided an update for the six month period to 31 March 2023. NAV per share increased by 1.6% compared to a benchmark return of 0.3% while shares were up 2.3%. Management sited a strict focus on valuation as one of the factors that allowed the company to avoid some of the […]
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15 Feb 2023 1 min read
Another year of outperformance for Brunner
Brunner (BUT) has released its annual results for its financial year ending 30 November 2022. BUT reported a NAV total return of 3.0% over the 12 month period, outperforming its composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All Share Index) which rose by 1.4%. BUT’s board has proposed a final dividend of […]
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13 Jul 2022 1 min read
QuotedData’s morning briefing 13 July 2022
In QuotedData’s morning briefing 13 July 2022: Round Hill Music Royalty (RHM) has announced plans to apply for admission of its shares to the premium segment of the main market of the London Stock Exchange. RHM is currently admitted to trading on the Specialist Fund Segment of the London Stock Exchange but as the company […]
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18 Feb 2022 2 min read
QD view – The real dividend heroes
This week, Brunner Investment Trust (BUT) reached a landmark 50 years of consecutive dividend increases after it announced a proposed final dividend of 6.05p in its annual results, taking the total for the year to 20.15p, up from 20.06p for the year before. It joins only six other trusts that have achieved this success, including […]
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16 Feb 2022 3 min read
Brunner reaches landmark 50 years of consecutive dividend increases
Brunner reaches landmark 50 years of consecutive dividend increases – Brunner (BUT) has posted its full year results for the 12 months to 30 November 2021. During the period, its NAV rose by 21.5% on a net dividends reinvested basis with debt at fair value. This was marginally ahead of the composite benchmark index which […]
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18 Feb 2021 1 min read
Brunner beat the market in 2020
Brunner beat the market in 2020 – Brunner Investment trust’s results for the year ended 30 November 2020 show an NAV total return of 6.2% for the period, ahead of the 5.3% return delivered by the trust’s benchmark (70% World Ex-UK and 30% UK All-Share). As dividend cuts and suspensions abounded in the wake of the […]
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29 Jul 2020 2 min read
QuotedData’s morning briefing 29 July 2020
In QuotedData’s morning briefing 29 July 2020: Primary Health Properties (PHP) reported interim results to 30 June 2020, with performance highlights that include: Adjusted EPRA earnings per share increased by 7.1%; Average uplift of 2.2% per annum on rent reviews completed in the period (FY 2019: 1.9%; FY 2018: 1.4%); Additional annualised rental income on a […]
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13 May 2020 2 min read
Lucy Macdonald steps down as manager of Brunner
Brunner (BUT), the global sector company, which counts on healthcare and financial services as its two largest sector allocations, has announced that Lucy Macdonald has stepped down as manager of the trust. Matthew Tillett, who BUT says has worked closely with Lucy on Brunner for a number of years, will be the new lead manager, supported […]
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20 Feb 2020 1 min read
Brunner sees benefit of debt repayment
Brunner sees benefit of debt repayment – over the year to the end of November 2019, Brunner outperformed its benchmark, returning 13.2% against 12.6%. Revenue earnings rose 10.1% to 21.7p and the dividend was increased by the same percentage, hitting 19.98p. A big contributor to the earnings and capital performance was the much lower costs […]
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15 Feb 2019 2 min read
Cost of debt restructuring contributes to Brunner underperformance
Brunner Investment Trust has announced its final results for the year ended 30 November 2018. During the year, Brunner provided an Nav total return of 2.7%, which the trust says a little behind the composite benchmark index (70% FTSE World Ex-UK and 30% FTSE All-Share Index). BUT says its benchmark rose by 4.1% on a total […]
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15 Feb 2018 2 min read
Brunner – 46 years of dividend growth
Brunner – 46 years of dividend growth. Brunner has announced its final Results for the year ended 30 November 2017. Its NAV total return was 19.5%, which is ahead of its composite benchmark index’s return of 15.1%. In terms of specific drivers of performance, the extract from the annual report released this morning does not […]
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15 Feb 2017 1 min read
Brunner beats benchmark in 2016
Over the year ended 30 November 2016, Brunner Investment Trust’s NAV increased by 20.2% on a total return basis, outperforming the benchmark which generated a total return of 18% over the period. The total dividend payment for 2016 was upped to 15.8p, an increase of 3.3% on last year. For the majority of its history, Brunner […]
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25 Jul 2016 3 min read
Brunner considering increasing overseas exposure
Brunner has announced interims covering the six months ended 31 May 2015. The Net Asset Value per ordinary share of the company increased by 2.6% on a total return basis, outperforming the benchmark (50% FTSE All-Share, 50% FTSE World Index (ex UK Sterling), by 0.4%. Earnings increased by 11.3% to 8.9p per ordinary share in the […]
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23 Jun 2016 1 min read
Lucy Macdonald takes charge of Brunner
The Brunner Investment Trust announced today that Lucy Macdonald, who has been co-managing Brunner since 2005, will become the manager of the Trust from 23 June 2016. This follows the departure of Jeremy Thomas who has been co-managing the Trust with Lucy since 2010. Lucy is Chief Investment Officer, Global Equities at Allianz Global investors […]
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22 Feb 2016 2 min read
Brunner matches benchmark in 2015
Brunner says that over the course of 2015, on a total return basis, its NAV increased by 1.7%, slightly underperforming its benchmark which returned 1.8%. The total dividend payment for 2015 was 15.3p, an increase of 2.0% on last year. There was no report from the managers in the announcement but, looking at the full annual […]
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29 Jul 2015 1 min read
Brunner ahead in H1
Brunner’s performance over the six months ended 31 May 2015 was 3% better than its benchmark as it returned 9.8% vs. 6.8% for its composite benchmark (50% FTSE All-Share, 50% FTSE World Index ex UK). The dividend has been increased from 6.1p to 6.4p. The statement says “Performance benefited from positive stock selection in Consumer […]
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18 Feb 2015 1 min read
Disappointing year for Brunner
Brunner Investment Trust has published its results for the year that ended on 30 November 2014. Over the year the fund’s net asset value total return lagged the return on its benchmark by 3.6% (Brunner’s return was 6.0% and 9.6%). The company’s earnings fell too, by 3.3% to 14.7p. By contrast however the full year dividend […]
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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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24 Feb 2014 1 min read
Brunner : BUT – Annual results
Brunner’s final results for the year ended 30 November were released late on Friday 21st. Over the year Brunner’s net asset value rose by 23.2%. 4.% of that return came from the effect of marking its debt to fair value (as the maturity date of its very expensive date draws nearer). The benchmark return was […]
Upcoming Events
Videos
In The Press
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09 Jun 2025 1 min read
Investment trust insider on the end of US exceptionalism
Investment trust insider on the end of US exceptionalism – James Carthew: Investment trusts for the end of US dominance Scottish Mortgage is one of several global investment trusts that are notably underweight North America. In recent weeks, the number of commentators suggesting that US exceptionalism is dead, the US economy is in trouble, and […]
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27 Jan 2025 1 min read
How have dividend heroes fared against inflation?
by Faith Glasgow from interactive investor, 27th January 2025: When it was introduced back in 2009, the Association of Investment Companies’ (AIC) Dividend Heroes concept was a stroke of marketing genius. It highlighted the 19 investment trusts that had maintained or increased payouts to shareholders for more than 20 consecutive years, regardless of the ups […]
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29 Nov 2024 1 min read
Which undervalued trusts could rerate in 2025?
By Jennifer Hill, Investment Trust Insider, 29 November 2024: Investment trust discounts are heading in the right direction, having narrowed by almost four percentage points from their lows in October last year, but they still have plenty of ground to make up. At the end of October 2023, amid rising interest rates and conflict in […]
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18 Dec 2023 1 min read
Bagging a bargain: 13 investment trusts pros say offer great value
by Jennifer Hill from interactive investor, 18th December 2023: Investors looking to bag a bargain need look no further than the investment trust sector where risk-off sentiment has this year sent discounts to levels not seen since the financial crisis. At the end of 2021 – before the war in Ukraine fuelled energy and food […]
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10 May 2023 1 min read
The eight income investment trust heavyweights: how sustainable are the dividends?
by Jennifer Hill from interactive investor, 10 May 2023: Eight investment trusts have half a century or more of increasing payouts to investors but deeper analysis is required to ascertain their true income prowess, reports Jennifer Hill… But dividend growth alone does not make a trust the best home for income seekers’ capital. A deeper […]
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27 Jan 2023 1 min read
Public/private valuation disconnect looks overdone
James Carthew for Investment Week, 24 January 2023: Within the investment companies sector, it has to be admitted that 2022 was a pretty poor year for funds investing in global equities. Only one, Brunner, managed to beat the MSCI AC World index, in NAV terms, although Lindsell Train, Alliance Trust and F&C all came close. […]
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26 Sep 2022 2 min read
Generalist investment trusts: life in the old dog yet?
By Dave Baxter, Investors’ Chronicle, September 23 2022: It’s testament to the sheer uncertainty of recent times that not a single UK investment trust has launched in the first eight months of 2022. That compares with 16 over the course of 2021 and six in an unpredictable 2020. Some analysts reckon it might even mark […]
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23 Sep 2022 2 min read
What should I do when my fund manager departs?
James Crux, Shares Magazine, 22 September 2022: On 5 September, asset manager Abrdn (ABDN) announced that veteran and very successful fund manager Harry Nimmo will retire… When a fund manager who has forged a particularly strong track record exits stage left, it is tempting to immediately sell your fund units or investment trust shares. However, […]
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18 Jan 2021 1 min read
Investment trust bargains at the start of 2021
Investment trust bargains at the start of 2021 by Kyle Caldwell from interactive investor | 12th January 2021 09:35 Investing in shares or sectors of the market that are ‘cheap’ and undervalued is an approach that entails many risks, but potentially offers great rewards… Trading on a discount does not make a trust an instant bargain. Some trusts will justifiably […]
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15 Nov 2019 2 min read
Investing alongside the wealthy
Emma Agyemang, FT Money, 15 November 2019 Family fortunes: how to invest alongside the wealthy What is the secret to keeping wealth in the family? It might just lie in investment trusts. For generations, Britain’s richest families have turned to closed-ended funds to preserve and grow their wealth. Witan Investment Trust was launched in 1909 […]
