CITY OF LONDON INVESTMENT TRUST PLC (CTY)

CITY OF LONDON INVESTMENT TRUST PLC (CTY)

Blog posts

Alliance Trust Resets Dividend

An announcement this morning from Alliance Trust (ATST) says that the board has concluded that an increased dividend “will benefit existing shareholders and enhance the attractiveness of the Company’s shares”. They expect the overall annual dividend to increase by 32.5% over the 2020 dividend. The proposed increase will be well covered by distributable reserves and income it is suggested although no doubt some of the extra dividend cost will come from capital. ATST had a reported yield of 1.43% last year according ...

City of London Investment Trust Annual Report

I have been reading the City of London Investment Trust (CTY) annual report in advance of their AGM on the 28th of October. This is one of my oldest shareholdings – first purchased in 2011 with an annual total return since of 11.5% p.a. according to Sharescope. Historically it has been a good performer, if somewhat boring. That’s OK but last year was a disappointing one. Has Job Curtis, the long-time manager, lost his touch? Last year the trust supplied a share ...

Woodford Fund and Trust News

The good news for investors in the Woodford Patient Capital Trust (WPCT) is that Schroders are taking over management of the portfolio.  The share price promptly jumped upwards on...

City of London IT, Equals Interims, Paypoint CEO, Downing One VCT and Parliamentary Pandemonium

Having been away on holiday in the North of England last week, this is a catch up on news that impacted my portfolio. I received the Annual Report for...

Earthport Accounts, City of London IT and Patisserie

Earthport (EPO) is the latest AIM company to report that its past accounts are not all they should have been. Following a review by the new CEO and CFO, it seems there have been errors in reporting of forward foreign exchange transactions. This will result in fair value adjustments and a reduction of £6.3 million to £16.6 million in the net assets of the group at June 2017. Likewise adjustments are required to previous years. Reported earnings are also reduced although ...

On-Line AGMs and City of London IT

I mentioned in a previous article the growing concerns about the use of “virtual” Annual General Meetings (AGMs) in the USA. There are not many on-line AGMs yet in the UK but yesterday there was a good example at the City of London Investment Trust (CTY). I actually had to complain to the company last year about the defects when I attempted to attend it on-line rather than in person – it did not work on the day, plus a later ...

Learning From The Experts

One way to learn about how to invest successfully is to follow the style and rules of the experts. Yesterday (27/10/2016) I attended the AGM of Standard Life UK...

AGM Reports

The Second of Two Unsatisfactory AGMs: City of London Investment Trust 2021

My report on the first unsatisfactory AGM can be found here. The second AGM I attended was that of City of London Investment Trust (CTY). I commented on this company when they published their Annual Report earlier this month. My view on the company has not changed from attending the AGM. Too much emphasis on maintaining the dividend record by investing in high dividend paying companies rather than looking at total return. This was a hybrid AGM with attendees both present in person ...

City of London Investment Trust (CTY) – AGM Report 2015

I'll start by repeating what I said about this company in 2012: I have held this general investment trust a very long time - about as long as the fund manager, Job Curtis, has been managing the fund in fact. In other words a very long time, so it was interesting to attend their Annual General Meeting (AGM) yesterday as I don’t always bother. It’s hardly a company where one expects many complaints or surprises at the AGM for reasons that ...

City of London Investment Trust (CTY) AGM Report 2012

I have held this general investment trust a very long time - about as long as the fund manager, Job Curtis, has been managing the fund in fact (see below). In other words a very long time, so it was interesting to attend their Annual General Meeting (AGM) yesterday as I don’t always bother. It’s hardly a company where one expects many complaints or surprises at the AGM for reasons that will become apparent from this report, but it was interesting ...

ShareSoc News

City of London Investment Trust Removes Performance Fee

PRESS RELEASE 49 (31/07/2013) ShareSoc welcomes the announcement by City of London Investment Trust that it is to remove the manager’s performance fee. In future it will simply pay a flat fee of 0.365% of assets (or 0.35% when net assets are above £1bn – they are currently 0.7bn). City of London IT is one of the largest generalist investment trusts and also one of the best performing over the long term. Despite beating its benchmark index last year, and over the last ...