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Diverse Income Trust PLC - invests in small- and medium-sized UK listed companies - In the year ended May 31, net asset value per share falls 6.6% year-on-year to 110.55 pence at the year-end, from 118.31p. Total NAV return, including dividends, for the year was minus 3.4%, underperforming a 4.7% return from Numis All-Share Index in the same period. Dividends total 3.90p, up 4% year-on-year from 3.75p, including the final proposed payout of 1.20p. Notes strong sector mix and low valuation of UK market, which it says may benefit from inflationary pressures, and prove attractive to investors going forward.
‘In prior periods, the trust has outperformed the equity income peer group. In contrast, this year, the multi-cap bias of the trusts portfolio was something of an impediment. The share prices of the largest UK quoted companies that have a majority of their businesses overseas, greatly outperformed most other UK-listed stocks over the year to May 2022, in part as their earnings are enhanced when sterling is weak,’ explain Investment Manager Gervais Williams and Martin Turner.
Current stock price: 97.10 pence
12-month change: down 14%
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