CT Global Managed Portfolio Trust's Top 10 Equity Holdings Constitute 48.1% of Portfolio with Strategic Global Diversification

JPMorgan Funds Form Core of CT Global's Portfolio Allocation

CT Global Managed Portfolio Trust's disclosure shows significant exposure to JPMorgan-managed funds, which collectively comprise a substantial portion of the portfolio. JPMorgan Global Growth & Income is the largest equity holding at 6.6% of gross assets, with JPMorgan European Growth & Income contributing 5.2%. Additionally, JPMorgan Emerging Markets Dividend Income holds 4.7%, underscoring the trust's commitment to dividend opportunities across various regions and economic stages.

This focus on JPMorgan funds reflects a strategic choice to access professionally managed equity income strategies without direct stock selection. Together, these three JPMorgan holdings represent about 16.5% of the portfolio, highlighting the importance of this manager relationship. For income-oriented investors, this diversified exposure across JPMorgan's income funds indicates a broad-based income strategy rather than reliance on a single fund.

Geographic Diversification Spanning Asia, Emerging Markets, and Established Income Themes

The portfolio exhibits deliberate geographic diversification, with notable allocations to Asia-focused and emerging market dividend funds. The Invesco Asia Dragon Trust holds 4.3% of gross assets, providing significant exposure to dynamic Asian markets. Complementary Asia-focused income funds include Schroder Oriental Income Fund at 4.6% and Aberdeen Asian Income Fund at 4.2%, reflecting the trust's view of Asia as a key dividend opportunity. This multi-manager Asian strategy benefits from varied investment philosophies within the region.

Emerging markets exposure extends beyond Asia through the JPMorgan Emerging Markets Dividend Income holding. This approach acknowledges the attractive dividend potential in emerging markets for patient income investors. The Murray International Trust at 5.6% further broadens geographic diversification, bringing global equity income expertise. Collectively, these holdings demonstrate CT Global's active pursuit of dividend opportunities beyond developed markets.

Invesco and Schroder Holdings Enhance Multi-Manager Dividend Income Exposure

The trust holds significant positions in Invesco-managed funds, with Invesco Global Equity Income Trust at 4.9% and Invesco Asia Dragon Trust at 4.3%. This dual-manager allocation within Invesco highlights the trust’s appreciation of the firm's global and regional equity income expertise. Allocating to two distinct Invesco funds reduces single-manager risk while maintaining strategic relationships.

Schroder Oriental Income Fund at 4.6% offers specialist Asian equity income expertise, while Aberdeen Asian Income Fund at 4.2% adds further manager diversity. This multi-manager approach across firms exemplifies CT Global's strategy to maximize manager selection benefits without over-concentration. The portfolio prioritizes access to quality income-generating equities through multiple professional managers rather than reliance on a single investment approach.

Alternative Investments in Private Equity and Structured Credit Bolster Portfolio

Beyond traditional equity income funds, CT Global holds a 4.3% stake in Neuberger Private Equity Partners, introducing private equity exposure that offers potential capital appreciation and income streams unavailable through listed equities. Private equity investments typically feature distinct risk-return profiles, longer holding periods, and reduced liquidity, indicating the trust’s willingness to diversify beyond public equity income vehicles.

The Law Debenture Corporation holding at 3.7% adds debt-focused investment expertise, specializing in structured credit and debenture instruments. This allocation diversifies away from pure equity exposure, introducing a different risk profile within the income framework. Together, Neuberger Private Equity Partners and Law Debenture holdings, totaling about 8.0% of gross assets, reflect CT Global's sophisticated portfolio construction incorporating alternative and credit-based income strategies.

Top Ten Holdings Comprise Nearly Half of Portfolio Value

CT Global Managed Portfolio Trust's top ten equity holdings represent 48.1% of gross assets, indicating a strategy of overweighting favored investment vehicles and managers rather than broad diversification across numerous smaller holdings. The remaining portfolio is likely spread across various other equities, trusts, or funds not detailed in the top ten.

This concentration signals confidence in the selected vehicles’ ability to deliver income and capital growth. For investors, the 48.1% concentration offers transparency on portfolio risk and diversification alignment with individual investment goals. The portfolio balances meaningful overweights in proven income generators with broader diversification.

Modest Net Gearing of 5.6% Used to Enhance Portfolio Returns

Operating with net gearing of 5.6%, CT Global employs modest leverage to potentially increase returns beyond equity-only funding. This conservative gearing level prioritizes portfolio stability and downside protection, aligning with the trust’s income-focused mandate. Leverage amplifies both gains and losses, so the 5.6% gearing reflects a balanced approach to enhancing yield without excessive financial risk.

Leverage is particularly relevant for income investors, as borrowed funds are invested in income-generating securities to boost yield. The net gearing figure may vary over time with market conditions and management decisions. Overall, this modest leverage level supports enhanced income while maintaining risk controls.

Portfolio Emphasizes Income-First Philosophy Across Managed Funds

The portfolio's composition underscores a focus on funds with explicit income generation mandates. Most top ten holdings include "income" in their names: JPMorgan Global Growth & Income, JPMorgan European Growth & Income, JPMorgan Emerging Markets Dividend Income, Invesco Global Equity Income Trust, Schroder Oriental Income Fund, and Aberdeen Asian Income Fund. This reflects alignment with CT Global’s income-focused investment objective, supported by meaningful dividend flows.

Murray International Trust at 5.6% further highlights the income emphasis, as it is known for international dividend generation. Even Neuberger Private Equity Partners suggests complementary income focus alongside growth, while Law Debenture Corporation introduces structured income via debt instruments. This cohesive selection supports the trust’s goal of delivering substantial distributions to shareholders.

Strategic Manager and Theme Conviction Evident in Trust and Fund Selection

CT Global’s substantial investments in listed investment trusts such as Murray International Trust, Invesco Global Equity Income Trust, and Invesco Asia Dragon Trust reflect a "fund of funds" strategy. This approach leverages specialist managers’ expertise and simplifies portfolio management. The significant allocations demonstrate management’s confidence in these trusts’ ability to generate returns.

The meaningful allocation to Asia-focused funds across multiple managers shows conviction that Asian equity markets offer compelling income opportunities. Approximately 13.1% of the portfolio is invested in three Asia-focused vehicles, representing a thematic bet on the region’s dividend potential. This multi-manager and thematic positioning reflects CT Global’s thoughtful portfolio construction.

Portfolio Snapshot as of 30 June 2026

The disclosed portfolio composition and gearing levels correspond to 30 June 2026, marking a financial reporting period end. Investors should note that holdings and leverage may have changed since this date due to market or management actions. Updated information is available on CT Global’s website.

This snapshot provides insight into the trust’s investment approach and positioning at that time but does not include forward-looking guidance. As an actively managed trust, portfolio and gearing adjustments are ongoing. Investors are advised to consult the latest reports for current details.