Bankers Investment Trust (The) - Concentrating on best ideas only
Following a strategic review earlier this year, the manager of the Bankers Investment Trust (BNKR), Alex Crooke, has concentrated the portfolio, reducing the number of holdings from around 170 to 100 by focusing on the best ideas available across global markets. The manager and the board believe this asset reallocation will differentiate BNKR from its peers, by making it one of the most concentrated investment companies in the AIC’s Global sector. Crooke stresses that this change does not represent a new strategy but is instead a refocusing of the trust’s existing approach. His attention to valuations also remains unchanged. Crooke believes the portfolio now forms ‘a whole that is greater than the sum of its parts’. He is optimistic that, combined with the board’s more flexible attitude to the use of revenue reserves to support dividends if required, the asset reallocation means the portfolio is well-placed to boost capital returns, while ensuring the trust keeps delivering progressive dividend growth.
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