THE BANKERS INVESTMENT TRUST PLC (BNKR) ISIN: GB00BN4NDR39
Factsheet - at 31 January 2024
Marketing Communication
Share price performance (total return)
Performance | 6m 1y 3y 5y 10y Commentary at a glance | |
over (%) |
Company overview
Objective
Price (rebased)
Benchmark | |
200 | NAV (cum income) |
150 | |
100 |
Share price (Total return)
NAV
(Total return)
Benchmark (Total return)
Relative NAV (Total return)
4.8 | 3.6 | 3.2 | 41.4 | 135.5 | Performance | |||||
In the month under review the Company's NAV total | ||||||||||
return was 0.9% and the FTSE World Index total | ||||||||||
5.9 | 7.5 | 19.8 | 57.4 | 165.4 | return was 1.0%. | |||||
Contributors/detractors | ||||||||||
6.3 | 13.0 | 35.9 | 78.0 | 147.6 | ||||||
An overweight position in UK shares and positioning | ||||||||||
in China and the technology sector detracted. An | ||||||||||
-0.5 | -5.5 | -16.1 | -20.5 | 17.8 | overweight position in Japan and stock selection in | |||||
industrials and in Europe contributed positively. | ||||||||||
Over the long term, the Company aims to achieve capital growth in excess of the FTSE World Index and dividend growth greater than inflation, as measured by the UK Consumer Prices Index ('CPI'), by investing in companies listed throughout the world.
Highlights
Since 1888 the Company has sought income and capital growth for shareholders with a globally diversified portfolio.
50 |
0 |
Jan 19 Jan 20 Jan 21 Jan 22 Jan 23 Jan 24 |
Outlook | |||
Equities have performed well but global economic | |||
Discrete year | Share price | NAV | growth has slowed and interest rates remain at |
higher levels. We think it makes sense to remain | |||
performance (%) (total return) | (total return) | cautious with regard to portfolio positioning. |
Company information
NAV (cum income) | 118.8p |
NAV (ex income) | 118.4p |
Share price | 103.8p |
Please note that the Company undertook a 'Share Split' of the ordinary Shares of 25p each into 10 Ordinary Shares of 2.5p each with effect from 1 March 2021. For more information please see the Company website.
Dividend history (pence/share)
3.0
Income
2.5
2.0
1.5
1.0
0.5
0.0
04 06 08 10 12 14 16 18 20 22
Please note that this chart could include dividends that have been declared but not yet paid.
31/12/2022 to | 6.1 | 11.6 | ||||
31/12/2023 | References made to individual securities do not constitute a | |||||
recommendation to buy, sell or hold any security, investment strategy | ||||||
31/12/2021 to | -17.8 | -10.6 | or market sector, and should not be assumed to be profitable. Janus | |||
31/12/2022 | Henderson Investors, its affiliated advisor, or its employees, may have | |||||
a position in the securities mentioned. | ||||||
31/12/2020 to | 13.6 | 16.8 | ||||
31/12/2021 | ||||||
31/12/2019 to | 13.5 | 12.6 | ||||
31/12/2020 | ||||||
31/12/2018 to | 29.9 | 24.7 | ||||
31/12/2019 | ||||||
All performance, cumulative growth and annual growth data is sourced from Morningstar.
Source: at 31/01/24. © 2024 Morningstar, Inc. All rights reserved. The information
contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not predict future returns.
Discount(-)/premium(+) | -12.6% |
Yield | 2.5% |
Net gearing | 8% |
Net cash | - |
Total assets | £1,543m |
Net assets | £1,449m |
Market capitalisation | £1,266m |
Total voting rights | 1,219,340,107 |
Total number of holdings 186 | |
Ongoing charges | 0.50% |
(year end 31 Oct 2023) | |
Benchmark | FTSE World Index |
Morningstar Medalist RatingTM
Effective 02/01/2024
Analyst-Driven %: 100.00
Data Coverage %: 100.00
Please remember that past performance does not predict future returns. The value of an investment and the income from it can rise as well as fall as a result of market and currency fluctuations, and you may not get back the amount originally invested. Please refer to the glossary for the definition of share price total return.
How to invest | Find out more | |
Go to www.janushenderson.com/howtoinvest | Go to www.bankersinvestmenttrust.com | |
Source: BNP Paribas for holdings information and Morningstar for all other data. Differences in calculation may occur due to the methodology used.
Please note that the total voting rights in the Company do not include shares held in Treasury.
THE BANKERS INVESTMENT TRUST PLC (BNKR) ISIN: GB00BN4NDR39
Factsheet - at 31 January 2024
Marketing Communication
Top 10 holdings | (%) |
Microsoft | 4.2 |
Accenture | 2.2 |
Apple | 1.8 |
Visa | 1.6 |
KLA | 1.6 |
American Express | 1.6 |
UnitedHealth Group | 1.5 |
Alphabet | 1.4 |
Toyota Motor | 1.3 |
CME Group | 1.3 |
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.
Geographical focus (%)
North America | 41.1% |
Europe | 16.4% |
United | 15.9% |
Kingdom | |
Japan | 13.8% |
Emerging | 8.1% |
Markets | |
Pacific Region | 4.8% |
The above geographical breakdown may not add up to 100% as this only shows the top 10.
Sector breakdown (%)
Technology | 20.9% |
Industrials | 17.2% |
Financials | 15.7% |
Consumer | 13.2% |
Discretionary | |
Health Care | 11.2% |
Consumer | 10.2% |
Staples | |
Energy | 3.6% |
Basic Materials 2.7% | |
Telecomms | 2.6% |
Real Estate | 1.4% |
Utilities | 1.3% |
The above sector breakdown may not add up to 100% due to rounding.
Key information
Stock code | BNKR |
AIC sector | AIC Global |
Benchmark | FTSE World Index |
Company type | Conventional (Ords) |
Launch date | 1888 |
Financial year | 31-Oct |
Dividend payment | May, August, November, |
February | |
Risk rating | Average |
(Source: Numis) | |
0.45% on net assets up | |
to £750m. 0.40% on net | |
Management fee | assets between £750m |
and £1.5bn. 0.35% on | |
net assets over £1.5bn |
Premium/(discount) of share price to NAV at fair value (%)
20 | |||
15 | |||
10 | |||
5 | |||
0 | |||
-5 | |||
-10 | |||
-15 | |||
-20 | |||
Jan 21 | Jan 22 | Jan 23 | Jan 24 |
10 year total return of £1,000
3,000 | Share price total return | Benchmark | |||
2,500 | |||||
2,000 | |||||
1,500 | |||||
1,000 | |||||
500 | |||||
0 | |||||
Jan 14 | Jan 16 | Jan 18 | Jan 20 | Jan 22 | Jan 24 |
All performance, cumulative growth and annual growth data is sourced from Morningstar. Share price total return is calculated using mid-market share price with dividends reinvested.
Performance fee | No |
(See Annual Report & Key Information Document for more information)
Regional focus | Global |
Fund manager | Alex Crooke 2003 |
appointment | |
Alex Crooke, ASIP
Fund Manager
Please remember that past performance does not predict future returns. The value of an investment and the income from it can rise as well as fall as a result of market and currency fluctuations, and you may not get back the amount originally invested. Please refer to the glossary for the definition of share price total return.
How to invest | Customer services | |||
Go to www.janushenderson.com/howtoinvest | 0800 832 832 | |||
THE BANKERS INVESTMENT TRUST PLC (BNKR) ISIN: GB00BN4NDR39
Factsheet - at 31 January 2024
Marketing Communication
Glossary
Discount/Premium
The amount by which the price per share of an investment company is either lower (at a discount) or higher (at a premium) than the net asset value per share (cum income), expressed as a percentage of the net asset value per share.
Gearing
The effect of borrowing money for investment purposes (financial gearing). The amount a company can "gear" is the amount it can borrow in order to invest. Gearing is used in the expectation that the returns on the investments bought will exceed the costs of the borrowings that funded the purchase. This Company can also use synthetic gearing through derivatives and foreign exchange hedging and/or other non-fully funded instruments or techniques.
Leverage
The Company's leverage is the sum of financial gearing and synthetic gearing. Details of the Company's leverage limits can be found in both the Key Information Document and Annual Report. Where a company utilises leverage, the profits and losses incurred by the company can be greater than those of a company that does not use leverage.
Market capitalisation
Share price multiplied by the number of shares in issue, excluding treasury shares, at month end. Shares typically priced mid-market at month-end closing.
Net Asset Value (NAV)
The total value of a Company's assets less its liabilities.
NAV (Cum Income)
The value of investments and cash, including current year revenue, less liabilities (prior charges such as loans, debenture stock and preference shares at fair value).
NAV (Ex Income)
The value of investments and cash, excluding current year revenue, less liabilities (prior charges such as loans, debenture stock and preference shares at fair value).
NAV total return
The theoretical total return on shareholders' funds per share reflecting the change in Net Asset Value (NAV) assuming that dividends paid to shareholders were reinvested at NAV at the time the shares were quoted ex-dividend. A way of measuring investment management performance of investment trusts which is not affected by movements in discounts/premiums.
Net assets
Total assets minus any liabilities such as bank loans or creditors.
Net cash
A company's net exposure to cash/cash equivalents expressed as a percentage of shareholders' funds, after any offset against its gearing. This is only shown for companies that have gearing in place.
Net gearing
A company's total assets (less cash/cash equivalents) divided by shareholders' funds expressed as a percentage.
Ongoing charges
The total expenses for the financial year (excluding performance fee), divided by the average daily net assets, multiplied by 100.
Risk rating
The key measure used to assess risk is volatility of returns, using historic net asset value (NAV) performance of the Company over 1 and 3 years. In this instance volatility measures how much a company's NAV fluctuates over time in relation to the UK Equity market. The higher a volatility figure, the more the NAV has fluctuated (both up and down) over time. Please note that risk categorisations are indicative and based principally on historic data and should not be solely relied upon when making investment decisions.
Share price
Closing mid-market share price at month end.
Share price total return
The theoretical total return to the investor assuming that all dividends received were reinvested in the shares of the company at the time the shares were quoted ex-dividend. Transaction costs are not taken into account.
Total assets
Cum Income NAV multiplied by the number of shares, plus prior charges at fair value.
Yield
Calculated by dividing the current financial year's dividends per share (this will include prospective dividends) by the current price per share, then multiplying by 100 to arrive at a percentage figure.
For a full list of terms please visit: https://www.janushenderson.com/en- gb/investor/glossary/
THE BANKERS INVESTMENT TRUST PLC (BNKR) ISIN: GB00BN4NDR39
Factsheet - at 31 January 2024
Marketing Communication
Source for fund ratings/awards
Overall Morningstar Rating™ is shown for an investment company achieving a rating of 4 or 5.
Morningstar Medalist Rating™
Ratings should not be taken as a recommendation. For more detailed information about Morningstar Ratings, including its methodology, please go to www.global.morningstar.com/managerdisclosures.
Company specific risks
- This Company is suitable to be used as one component of several within a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested in this Company.
- Active management techniques that have worked well in normal market conditions could prove ineffective or negative for performance at other times.
- The Company could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Company.
- Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
- The return on your investment is directly related to the prevailing market price of the Company's shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the Company. As a result, losses (or gains) may be higher or lower than those of the Company's assets.
- Global portfolios may include some exposure to Emerging Markets, which tend to be less stable than more established markets. These markets can be affected by local political and economic conditions as well as variances in the reliability of trading systems, buying and selling practices and financial reporting standards.
- Using derivatives exposes the Company to risks different from - and potentially greater than - the risks associated with investing directly in securities. It may therefore result in additional loss, which could be significantly greater than the cost of the derivative.
- Where the Company invests in assets that are denominated in currencies other than the base currency, the currency exchange rate movements may cause the value of investments to fall as well as rise.
- The Company may use gearing (borrowing to invest) as part of its investment strategy. If the Company utilises its ability to gear, the profits and losses incurred by the Company can be greater than those of a Company that does not use gearing.
- All or part of the Company's management fee is taken from its capital. While this allows more income to be paid, it may also restrict capital growth or even result in capital erosion over time.
Not for onward distribution. Before investing in an investment trust referred to in this document, you should satisfy yourself as to its suitability and the risks involved, you may wish to consult a financial adviser. This is a marketing communication. Please refer to the AIFMD Disclosure document and Annual Report of the AIF before making any final investment decisions. Past performance does not predict future returns. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor's particular circumstances and may change if those circumstances or the law change. Nothing in this document is intended to or should be construed as advice. This document is not a recommendation to sell or purchase any investment. It does not form part of any contract for the sale or purchase of any investment. We may record telephone calls for our mutual protection, to improve customer service and for regulatory record keeping purposes.
Issued in the UK by Janus Henderson Investors. Janus Henderson Investors is the name under which investment products and services are provided by Janus Henderson Investors International Limited (reg no. 3594615), Janus Henderson Investors UK Limited (reg. no. 906355), Janus Henderson Fund Management UK Limited (reg. no. 2678531), (each registered in England and Wales at 201 Bishopsgate, London EC2M 3AE and regulated by the Financial Conduct Authority) and Janus Henderson Investors Europe S.A. (reg no. B22848 at 2 Rue de Bitbourg, L-1273, Luxembourg and regulated by the Commission de Surveillance du Secteur Financier).
Janus Henderson is a trademark of Janus Henderson Group plc or one of its subsidiaries. © Janus Henderson Group plc
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
The Bankers Investment Trust plc published this content on 01 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2024 13:43:05 UTC.