The beginning of a new calendar year is always a hectic time for the AllianzGI Investment Trusts team. One of the key tasks is to prepare and publish the statutory annual reports for each of our Trusts. We dedicate substantial time and resource to making these as accessible, informative and interesting as possible. This year, the reports carry new case studies as well as expanded profiles on their largest holdings. All registered shareholders receive a copy of the annual report. If you’re a Brunner or Allianz Technology Trust (ATT) investor, your copy will arrive any day now. Merchants investors will receive theirs in April. Of course, if you prefer you can view reports online.
Historically, the annual report has always been the ‘shop window’ for each of our Investment Trusts. In terms of statutory information that remains the case but times – and trends – have changed so that the Trusts’ dedicated websites are now an additional ‘go to’ destination for the very latest information. That’s why we have relaunched the sites to make them ‘fit for purpose’ for our investors’ needs. Whether you’re using your mobile phone, hand-held tablet or desktop computer, you now have access to information on the Trusts in a way that works best for you.
The redesigned sites feature fresh and greatly enhanced content, including our Video Hub where you’ll find ‘face to face’ news and views with the Portfolio Managers and a Literature Library that includes an archive of historical material as well as the very latest documents. There’s also new ‘Education Centre’ and ‘How to Invest’ sections, plus all the latest investment performance information. We hope you’ll take time to log on and visit the new sites!
Walter Price, Portfolio Manager of ATT, has been in the UK recently. During a hectic schedule, Walter met with existing and potential shareholders as well as members of the press. Technology is a true source of innovation and Walter and the team’s office base in San Francisco is very much at the heart of the action – and therefore the press is always keen to hear their views. Lots of press coverage followed the visit, including the Mail on Sunday and Sky News, where Walter makes regular appearances when he visits London.
Both Brunner and Merchants are recognised by the Association of Investment Companies as ‘Dividend Heroes’ because of their track records of increasing dividends year-on-year. Merchants has increased its dividends year-on-year for 35 consecutive years whilst Brunner’s record goes back even further;1 its fourth and final dividend is proposed to be paid on 29 March and will mark Brunner’s 46th year of successive dividend increases. Income is, of course, a hot topic for investors and you can find out more about our free Investing for Income guide in this edition.
In other news linked to income, at the end of 2017 Merchants announced its plans to refinance a loan taken out in 1987 and replace it with new borrowing at much lower interest rates. More recently, on 14 February 2018, Brunner published its annual results in which it confirmed that it has repaid a £27 million secured loan which had been taken out many years ago when interest rates were much higher. There are many reasons why these loan repayment announcements could be potential game-changers for both Trusts, saving money and giving both more investment options, such as the flexibility to grow the dividend faster.
1 A ranking, a rating or an award provides no indicator of future performance and is not constant over time.