Edison issues review on Securities Trust of Scotla

RNS Number : 0193C

Securities Trust of Scotland PLC

26 September 2018

 

London, UK, 26 September 2018

Edison issues review on Securities Trust of Scotland (STS)

Securities Trust of Scotland (STS) aims to provide long-term growth in income and capital through investing in global equities. The current manager, Mark Whitehead, was appointed in May 2016 and adopted an unconstrained, bottom-up approach to identify high-quality companies that can be long-term structural winners. The portfolio holds a relatively concentrated number of high-conviction stocks, which the manager believes gives the portfolio both defensive characteristics, as well as delivering sustainable dividend growth. The board has a progressive dividend policy. In August 2018, it announced a refresh of the trust's marketing strategy, materially increasing its budget, and the appointment of a new non-executive director with extensive marketing expertise.

STS currently trades on a 7.5% discount to cum-income NAV, which slightly deeper than the three-year average of 6.3%. The board is committed to managing the discount, and has recently announced increased efforts and resources for the trust's marketing strategy.

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