Should I save into a Lifetime Isa and would my Help-to-Buy Isa be closed if I do? Workers’ pension deductions triple to 2. Will you be a tax winner or loser this year? Investment trust JPMorgan Claverhouse is a vehicle steeped in history, but it has not allowed this to inhibit its quest to become a thoroughly modern fund with widespread appeal to jpmorgan chinese investment trust plc share price seekers.
It has just clocked up an impressive 42 consecutive years of dividend increases and despite the fragile corporate environment, its managers are confident that income growth can be maintained. 352 million trust was founded in 1963 by investment house Fleming, whose roots were firmly based in Dundee. Its Claverhouse name is derived from Scottish soldier and nobleman John Graham of Claverhouse, who died in victory at the Battle of Killiecrankie in 1689. Fleming was bought by Chase Manhattan in 2000, which in turn merged with JPMorgan a year later.
Co-manager William Meadon is respectful of the trust’s history and its Scottish connections, but his main focus is on continuing to raise the fund’s dividends and ensuring it remains a favourite among private investors. Although the name does not give much away, Claverhouse is exclusively invested in the UK stock market, making it an ideal portfolio bolt hole for private investors. Its impeccable dividend growth record, he says, reflects not only astute stock selection but also the trust’s ability to squirrel away income in the good times to pay out in the bad when top firms’ dividends are under pressure. I’m a big fan of investment trusts,’ says Meadon. You can have seven good years of dividend growth in the UK stock market followed by seven lean years. But because trusts can push income into reserves, you get a smoothing in the income payments that UK oriented trusts like Claverhouse pay out.
It’s a good position for Meadon and fellow manager Sarah Emly to be in. Claverhouse is more than 80 per cent invested in FTSE 100 stocks. Its portfolio is dominated by income friendly companies such as BP, British American Tobacco and Shell. But Meadon is always looking for new income opportunities.
Among his key holdings is Dixons Carphone, which last year raised its dividend by 20 per cent. Big Money Questions: Does tax have to be so complicated? Could these LED lights on crossings save lives on the road? Will stock markets start to rise again?