Diverse Income Trust plc (LON:DIVI) topped the ranking of UK high dividend yield closed end funds at its 10-year performance anniversary on par with one peer by NAV total return (TR). This multi-cap trust is little correlated with UK equity indices but reflects the UK market’s performance trend. The managers Williams and Turner believe income shares, or what they call ‘short-duration’ shares, will outperform growth equities during the continuing UK and global recovery from the pandemic.
DIVI currently trades at a 1.6% cum-fair premium, close to NAV, in line with the board’s stated key performance indicators. The trust has issued shares in the past two weeks.
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