An Introduction to the Trust

Merchants’ aim is to provide shareholders with an above-average level of income and income growth with long term capital growth, through a policy of investing mainly in higher yielding large UK companies. We measure our success in attaining this objective by comparing the performance of the portfolio against the performance of the FTSE All-Share Index.


Share Price is the price of a single ordinary share, as determined by the stock market. The share price above is the mid-market price at market close.
Share Price
484.5p


Net Asset Value (NAV) per Share is calculated as available shareholders’ funds divided by the number of shares in issue, with shareholders’ funds taken to be the net value of all the company’s assets after deducting liabilities. The NAV figure above is based on the fair/market value of the company’s long-term debt and preference shares (known as debt at market value). This allows for the valuation of long-term debt and preference shares at fair value or current market price, rather than at final repayment value (known as debt at par).
NAV per Share
517.7p


Premium/Discount. Since investment company shares are traded on a stock market, the share price that you get may be higher or lower than the NAV. The difference is known as a premium or discount.
Premium/-Discount
-6.4%


Dividend Yield is calculated using the latest full year dividend divided by the current share price.
Dividend Yield
5.1%

Data source DataStream and Allianz Global Investors as at 19.10.2017 based on market close mid price.
In the Press

AIC Dividend heroes: Merchants’ 34 years of growing dividends

The Association of Investment Companies (AIC) has released the latest list of dividend heroes – those investment companies that have increased their dividends each year for 20 years or more.

Our History

Established in 1889, The Merchants Trust PLC celebrated its 125th anniversary in 2014, having successfully navigated a variety of market conditions – and several world wars – throughout its history. The Trust has demonstrated the benefit of active management over time and its aims today are remarkably similar to those established by its founders: to provide its shareholders with an above-average level of income which increases over time.

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Portfolio and Commentary

Click here for detailed information about the Trust’s portfolio and its past performance. Please remember that past performance is not a reliable indicator of future returns.

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© Allianz Global Investors GmbH 2017, Registered Office: Frankfurt am Main, Register: HRB 9340, Local court: Frankfurt am Main. All Rights Reserved. The Merchants Trust PLC is incorporated in England and Wales. (Company registration no. 28276). Registered Office: 199 Bishopsgate, London, EC2M 3TY. The Company is a member of the Association of Investment Companies - Category: UK Equity Income.