Founded in 1891, City of London Investment Trust Plc is a UK-based closed ended investment company with the objective is to deliver long-term growth in income and capital and dividend income by investing in equities listed on the London Stock Exchange. The company invests across Energy, Basic Material, Industrials, Consumer Staples, Health care, Consumer Discretionary, Telecommunications, utilities, financials, technology, and real estate. It invests in equities and debt securities such as corporate bonds, convertible bonds, and government debt, principally in the UK with a bias towards large, multinational companies. The company is listed on the London Stock Exchange as LON: CTY and is a constituent of FTSE 250 Index.
The company has appointed Janus Henderson Group Plc as its investment manager. The company has adopted an investment policy to diversify its risk and enhance return, such as a minimum 60% of its portfolio should be invested in FTSE 100 Index constituent companies with a market capitalization greater than £5 billion at the time of investment. The remaining 40% of the portfolio should be invested in medium and small-sized companies and the restriction of a maximum of 20% of the portfolio being invested in overseas companies remains unchanged.
Around 60% of the portfolio by value will be invested in large companies with a market capitalization greater than £5 billion and the remaining will be invested in medium-sized and small companies. No more than 20% of the portfolio will be invested in overseas-listed stocks and the portfolio yield will usually be between 10% and 30% above the average dividend yield for the UK equity market. Further, the company will not invest over 15% of its portfolio in any single investment on the acquisition and will not invest over 15% of the portfolio in any other UK-listed investment trusts or companies.
201 Bishopsgate, London, EC2M 3AE United Kingdom