The managers, James Anderson and Tom Slater run a conviction portfolio of around 70 to 80 shares. The result is a portfolio dominated by big holdings in some of the companies involved in the world of social media, the internet, healthcare, eco-friendly energy and gene therapy.
Baidu is China's leading search engine and has recently started selling 'smart home' products similar to Amazon's Echo/Alexa as well as a personal robot marketed as 'Raven'. They are also looking at more ambitious technology such as driverless cars..
Over the past ten years, the trust has delivered a return of 334%. Although this is essentially a global growth trust, it is worth noting it has increased its dividend every year for the past 34 years. Income from the underlying holdings no longer covers the dividend so the board have agreed to provide the difference from capital to continue the progressive pay out. The increase this year will be 2% making a total of 3.07p. However, due to the significant share price appreciation, the current yield is 0.7%.
As ever, this article is merely a record of my personal investment decisions and should not be regarded as an endorsement or recommendation - always DYOR!