reports
- Shonil Chande
Well-positioned as rotation gathers pace
North American Income Trust (NAIT) stands apart amongst the AIC North America sector funds in combining an income focus with at least 90% of its portfolio invested in the US. NAIT’s manager, Fran Radano, believes that this should work in its favour, as there is a good chance that the market rotation back into sectors with attractive valuations, like financials, will continue over the rest of 2021.
- James Carthew
Well-positioned as rotation gathers pace
North American Income Trust (NAIT) stands apart amongst the AIC North America sector funds in combining an income focus with at least 90% of its assets invested in the US. NAIT’s manager, Fran Radano, believes that this should work in its favour, as there is a good chance that the rotation back into sectors providing value, like financials, will continue over the rest of 2021.
- James Carthew
Purest access to US equity income
US equity income-focused funds, like the North American Income Trust (NAIT), have not had to deal with the suspension of dividends in the way that their UK peers have. Though share buybacks have ceased, regulators in the US have not banned bank distributions in the way that they have elsewhere, while healthcare, NAIT’s other major exposure, is holding up very well.
- James Carthew
Purest access to US equity income
US equity income-focused funds, like the North American Income Trust (NAIT), have not had to contend with the suspension of dividends in the way that their UK counterparts have. Though share buybacks have ceased, regulators have not banned bank distributions in the way that they have elsewhere, while healthcare, NAIT’s other dominant exposure, is holding up very well.
- James Carthew
Time to grow?
The North American Income Trust (NAIT) has been generating an attractive and increasing dividend (up 9% for the year ended 31 January 2019). It is also generating reasonable capital growth, despite an environment that has been favouring low-yielding, high-growth companies. The manager, Fran Radano, is not unduly concerned about the health of the US economy. He continues to recycle the portfolio into good quality stocks that offer the prospect of reasonable dividend growth and should prove resili...
- James Carthew
Time to grow?
The North American Income Trust (NAIT) has been generating an attractive and increasing dividend (up 9% for the year ended 31 January 2019). It is also generating reasonable capital growth, despite an environment that has been favouring low-yielding, high-growth companies. The manager, Fran Radano, is not unduly concerned about the health of the US economy. He continues to recycle the portfolio into stocks that he believes are good quality that offer the prospect of reasonable dividend growth an...
- James Carthew
Reasons to be cheerful
Investors in the US may be preoccupied by a possible trade war with China and rising interest rates but the manager of North American Income Trust (NAIT) is relatively upbeat. He points out that the US economy is outpacing peers; markets have corrected and are some way off their peaks; investors’ narrow focus on growth stocks has abated somewhat; and, crucially for a trust that has an income mandate, dividends are set for a positive step change.
- James Carthew
Reasons to be cheerful
Investors in the US may be preoccupied by a possible trade war with China and rising interest rates but the manager of North American Income Trust (NAIT) is relatively upbeat. He points out that the US economy is doing better than most other developed economies; stock markets have corrected and are some way off their peaks; investors’ narrow focus on growth stocks has abated somewhat, which should help the sorts of stocks that NAIT favours; and, crucially for a trust that has an income mandate, ...
Initiation: Above-average yield from a concentrated portfolio
The North American Income Trust (NAIT) is a concentrated portfolio of primarily US large-cap stocks. Manager Fran Radano selects companies on the basis of their quality, value and income. The trust is benchmarked against the S&P 500 Index, but is also referenced against the Russell 1000 Value Index as it better reflects the investment mandate and income objective. Prior to May 2012, the trust was an index fund tracking the total return of the S&P 500 Index. NAIT has a progressive distribution po...
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