Simon Gergel, director at RCM, is the portfolio manager of the Merchants Trust plc. He talks to Jane Wallace about the trust's objectives and performance.
What is the objective of the trust? It is to achieve a high and rising income stream and long-term capital growth by investing mainly in high yielding FTSE 100 companies. The trust can invest up to 15% in mid-caps and very occasionally in small-caps. It is benchmarked against the FTSE 100 index but we also reference the FTSE 350 High Yield. How would you describe your investment style? We look for good companies offering a high yield but at a sensible price. We are value- driven, which sometimes means you have to take a contrarian view, but to my mind growth and value are not op...
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