Edison issues review on Witan Investment Trust

RNS Number : 8315P

Witan Investment Trust PLC

14 October 2019

 

London, UK, 14 October 2019

Edison issues review on Witan Investment Trust (WTAN)

Witan Investment Trust (WTAN) employs a multi-manager strategy providing a 'one-stop shop' for exposure to global markets. The trust's investment director James Hart highlights WTAN's robust revenue stream, which is underpinned by a portfolio of high-quality companies with long-term growth potential. The trust's annual dividends have compounded by 8.7% pa over the last 10 years and by an enhanced 10.3% pa over the last five. Hart says that although expectations have moderated, the outlook for growth remains favourable, which is positive for the long-term, patient investor, despite shorter-term periods of stock market volatility.

The board regularly repurchases WTAN's shares to ensure they continue to trade at a sustainable low discount (or premium) to NAV. The trust's current 2.9% share price discount to cum-income NAV compares with the 2.5% to 2.7% range of average discounts over the last one, three and five years. WTAN has a progressive dividend policy and is heading for a 45-year run of higher annual payments; its current yield is 2.3%.

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