Standard Life Equity Income Trust - Unconstrained Investment In UK Equit
Edison | Jan 30, 2017 08:41AM ET
Standard Life Equity Income Tst (LON:SLET) aims to generate above-average income and real growth in capital and income from a portfolio of UK equities across the capitalisation spectrum. At end-December 2016, more than 55% of the portfolio was invested outside of the FTSE 100 index. While the last year has seen a tough period of relative investment performance as a result of outperformance of large-cap companies with overseas earnings, which were not held, SLET continues to have a good long-term track record; it has outperformed the benchmark FTSE All-Share index over both five and 10 years. With the exception of one year of static dividends, SLET’s annual dividend has increased every year since launch.
Manager Thomas Moore is able to draw on the wide resources of Standard Life (LON:SL) Investments’ UK equity team. He employs the firm’s Focus on Change philosophy, a proprietary screening matrix and thorough fundamental research to construct a relatively concentrated portfolio of 50-70 companies that are trading at a discount to their intrinsic value. Moore’s unconstrained approach means that stock and sector weightings vary significantly from the benchmark; at end-December 2016, more than one-third of the fund was invested in financial stocks. Gearing is permitted in a range of 5% net cash to 15% net gearing – net gearing is typically c 10%.
Standard Life Equity Income Trust - Unconstrained Investment In UK
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