Edison review on Securities Trst of Scotland

RNS Number : 5936R

Securities Trust of Scotland PLC

09 March 2016

 

London, UK, 9 March 2016

Edison issues research review on Securities Trust of Scotland

Securities Trust of Scotland (STS) aims to achieve a combination of rising income and long-term capital growth from a concentrated portfolio of global large- and mid-cap stocks. The board's revised dividend policy, announced in May 2015, enables the company to deliver more of its returns to shareholders in dividends, while maintaining the investment approach and avoiding a potentially risky move towards higher-yielding stocks; STS now offers a 4.4% yield. Manager Martin Currie has a commitment to income investing, one of its principal strategy types.

Having adopted a global mandate in mid-2011, STS traded at a premium until mid-2014. The share price discount to NAV is now 7.0%, which probably reflects heightened stock market volatility and near-term investment performance. The discount is at the wider end of its range over one and three years and STS has been actively repurchasing shares to help manage the level.

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