Alliance Trust outperforms benchmark in 2023

'Unusual' lack of Whitmore comment

clock • 2 min read

Alliance Trust outperformed its benchmark over the course of 2023, although analysts have noted the "unusual" lack of commentary regarding the departure of Ben Whitmore from Jupiter Asset Management, a holding which comprises 9% of the trust.

According to its annual results for the year to 31 December 2023, the trust offered a share price return of 20.2% and a NAV total return of 21.6%, compared with its MSCI All Country World index benchmark return of 15.3%.  The trust has also raised its dividend 5% on the previous year's figure, up to 25.2p per share thanks to the addition of a Q4 interim dividend of 6.34p. Spread between ten underlying equity managers, the trust's portfolio is highly concentrated, with 9% allocated to Jupiter Asset Management. Given the pending departure of manager Ben Whitmore, Numis analysts Ash N...

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