Aberdeen's Dunedin Income Growth trust generated a net asset value total return of 21.8% in the year...
Aberdeen's Dunedin Income Growth trust generated a net asset value total return of 21.8% in the year to 31 January 2007, beating the FTSE All-Share by more than eight percentage points.
Chairman John Scott hailed a good year for investors, with outperformance coming from a mix of stock selection and sector allocation.
According to AIC data, the net Nav total return rise put the trust among the best performing in its UK Growth & Income sector, with the average vehicle generating a 16.7% increase.
Scott noted that Dunedin, which is managed by Aberdeen's Chou Chong and Stewart Methven, has moved away from being tied to the benchmark index, resulting in a better spread of investments across sectors.
He added the portfolio now includes a small exposure to oil companies listed in continental Europe.
The trust's board recommended a final dividend of 5.9p per share, giving a total dividend for the year of 9.0p, up 9.8% on last year's 8.2p.
The vehicle was previously run by David Binnie, who left Aberdeen last January, one week after the departure of Dunedin Smaller Companies manager Andrew Paisley.