F&C's Investors Capital trust reports 48.1% return over last year

The Investors' Capital trust raised £6.5m last year, reporting a dividend yield of 6.7% against 3% from FTSE All Share Capped 5% Index.

The trust, managed by F&C, recorded total distributions of 5.35p per share, with net asset value total return per share of 48.1% against the benchmark's return of 53.9%. Over the year, the A shares traded at an average discount to net asset value per share of 0.9%. The board says it expects to maintain the same level of dividend for at least the first half of the current financial year. "Income from the Higher Yield Portfolio, which comprised predominantly investment grade corporate bonds, was broadly at the level anticipated," fund manager Rodger McNair says. "The highly expans...