The December 2023 update from Brunner Investment Trust PLC highlights the trust's appeal as an investment, emphasizing its 51 years of dividend growth, high yields, and a global, actively managed equity portfolio. The monthly fact sheet reveals that the trust's Net Asset Value (NAV) total return outperformed the benchmark index, with industrial holdings contributing significantly to this performance. Notable contributors to performance included Intercontinental Hotels Group (IHG), Redrow, Tyman, and Assa Abloy, while detractors included United Health, AJ Gallaher, Munich Re, and Visa.
The trust's portfolio managers also shared insights into specific stock performances, such as the rebound of Charles Schwab and the decision to sell shares in St Jamess Place due to increased regulatory scrutiny. The managers emphasized the importance of revising the portfolio investment case and making decisions based on the evolving investment thesis. The update also invites readers to explore the latest portfolio breakdown, performance, and dividend information on the trust's website.
The update concludes with a brief outlook for technology companies that have benefited from the AI boom, and contact information for Allianz Global Investors UK Limited, the company managing the trust. The communication also includes regulatory information and disclaimers regarding investment risks and confidentiality.