Oct 17th 2013 - Edison Investment Research today published a report on Merchants Trust Closed Fund (MRCH.L, LSE:MRCH, LON:MRCH) entitled "Quarterly Income From Value-focused Portfolio". In summary, the report says:
The Merchants Trust (MRCH), managed by Simon Gergel, CIO UK Equities at Allianz Global Investors (AGI), has continued to outperform its FTSE 100 benchmark during the last 12 months, providing price and NAV total returns of 39.4% and 26.2% vs 16.7% for the FTSE 100. Dividends are paid quarterly, MRCH has an above-average yield (4.7%) and the recent interims suggest it is on track to provide 32 years of uninterrupted dividend growth. MRCH is managed using a value-driven investment style, and while the manager acknowledges it is currently more challenging to find value, he is identifying opportunities in the mega-caps (oils) and recovery stocks.
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