• Investors Capital Trust - NEW BANNER
  • The Trust aims to deliver an attractive return in the form of dividends and/or capital returns, together with the potential for capital growth. The portfolio is managed in two parts, an equities portfolio and a higher yield portfolio. 

    The equities portfolio represents the majority of the Trust's assets and is invested in UK large and mid-sized companies while the higher yield portfolio is currently invested in predominantly investment grade corporate bonds.

  • F&C UK High Income Trust plc

    (formerly Investors Capital Trust plc)

  • How to Invest

    Open an F&C Savings Plan

    Call: 0800 136 420

    Invest online now

    Or contact your usual investment broker

Key facts

  • Key facts

    • F&C UK High Income Trust plc aims to provide shareholders with an attractive level of income together with the opportunity for Trust growth.
    • The majority of the Company's assets are invested in an equities portfolio comprising large and mid-size UK companies.
    • The trust has two classes of share - A shares and B shares - which pay the same level of quarterly cash distributions. The cash distributions on the A shares are paid as dividends while those on the B shares are paid by way of capital distributions and therefore taxed under capital gains tax (CGT) rules which can provide tax benefits to certain types of investors. The net asset value attributable to each class of shares is the same.
    • The shares may also be traded as units. Each unit consists of three A shares and one B share.
  • Fund facts
    Investment manager F&C Investment Business Limited
    Benchmark FTSE All-Share Capped 5% Index
    AIC sector UK Equity & Bond Income
    Launch date 1 March 2007
    Total assets £146.5 million (as at 30.12.16)
    Currency Sterling
    ISIN (Units) GB00B1N4H933
    (A Shares) GB00B1N4G299
    (B Shares) GB00B1N4H594
    SEDOL (Units) B1N4H93
    (A Shares) B1N4G29
    (B Shares) B1N4H59
    Key dates
    Annual general meeting June
    Year end 31 March
    Dividend payment date(s) August, November, February and May
    Ex-dividend date(s) July, October, January and April
  • Fund manager commentary

    Over the month, the Company’s net asset value total return was 5.1% and this compares with the return from the FTSE All-Share 5% Capped Index return of 4.9%.

    During the past two months, there was a substantial reduction in assets allocated to the higher yield portfolio in light of the low level of yields available on corporate bonds, particularly on higher quality, investment grade corporate bonds. As at the end of December, the higher yield portfolio accounted for just 2.2% of the Company’s total assets. With global economic growth expectations improving and inflation expectations rising we expect to see upwards pressure on both government bond yields and to a lesser extent investment grade credit yields. The proceeds raised from the reduction in the Company’s corporate bond exposure was reinvested across a wide range of existing holdings in the equities portfolio.

    Equity markets performed well over the month with the UK market closing the year at an all-time high as concerns over the potential impact of the UK’s decision to leave the European Union receded. In fact, the UK market has benefitted significantly from the effect of the devaluation of sterling on its predominantly international earnings base. In the United States, markets were buoyed by the improvement in macroeconomic backdrop and the expansionary pro-business rhetoric from the incoming US administration.

    As at 31 December 2016

  • Share price - A share class

    99.00p-1.00p

    21 Feburary 2017

  • Share price - B share class

    101.00p1.00p

    21 Feburary 2017

  • Share price - Units share class

    397.50p0.00p

    21 Feburary 2017

  • Rodger McNair

    Rodger McNair

    Fund Manager

Past performance is not a guide to future results. The value of investments can go down as well as up.

Information in this section of the Website is directed solely at persons who are located in the UK and can be categorised as retail clients. Nothing on this website is, or is intended to be, an offer, advice, or an invitation, to buy or sell any investments. Please read our full terms and conditions before proceeding further with any investment product referred to on this website. This website is not suitable for everyone, and if you are at all unsure whether an investment product referenced on this website will meet your individual needs, please seek advice before proceeding further with such product.

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