05/21/2018 | Press release | Distributed by Public on 05/21/2018 07:56
London, UK, 21 May 2018
Edison issues review on Witan Investment Trust (WTAN)
Witan Investment Trust (WTAN) has employed an active multi-manager strategy since 2004, offering investors diverse exposure to global equities. In 2017, the trust delivered another year of outperformance versus its composite benchmark, which it has surpassed over the last one, three, five and 10 years. WTAN's investment director, James Hart, believes that equities can continue to offer attractive returns for the patient investor, although he notes that stock market volatility is now higher than the benign levels experienced in 2017. In this environment, he believes that active stock picking, rather than blanket equity exposure, should produce better returns for investors. WTAN has a progressive dividend policy; its annual distribution has increased for the last 43 consecutive years.
WTAN's board actively manages the discount, aiming for its shares to trade close to NAV. In 2017, WTAN repurchased c 1.5% of its shares at discounts between 1.5% and 6.0% (the trust has been buying back shares at lower discounts than in recent years). Its current 0.8% share price discount to cum-income NAV is narrower than the averages of the last one, three, five and 10 years (range of 2.0% to 7.5%). WTAN has a distinguished dividend history; it has increased the annual payout for 43 consecutive years, its current yield is 2.0%.
Click hereto view the full report.
All reports published by Edison are available to download free of charge from its website
About Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
Edison is authorised and regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.
For more information please contact Edison:
Mel Jenner, +44 (0)20 3077 5720
Gavin Wood, +44 (0)20 3681 2503
Learn more at www.edisongroup.comand connect with Edison on: