Alliance Trust raises dividend for 48th consecutive year

6th Mar 2015 07:13

Scottish based investment manager Alliance Trust posted a net asset value (NAV) total return of 8.1% last year and raised its total dividend, including a special dividend of 2.54p by 14.3%.That's the 48th year of consecutive dividend increases and equates to an effective yield at the year end of 2.6%.The investment manager ended the year with third party assets under management (AUM) of £1.9bn, generating net inflows of £88m and reducing losses by 23% to £3.2m.That said, the group still ended the year with a loss, although reduced losses by 23% to £3.2m on the back of tighter cost controls. Overall, the investment trust posted a total return on net asset value of 8.1%.Katherine Garrett-Cox, chief executive said the trust is confident it will continue to attract third party investment and sees numerous opportunities for the investment portfolio in the years ahead."The investment team will position the portfolio to take account of any market volatility resulting from economic and geo-political developments relating to the euro, the conflicts in Ukraine and the Middle East, and the UK general election," she said.In terms of 2015, the trust highlighted the upcoming general election in the UK, and said that "whatever the outcome it will take time for any changes to make a material difference to the profit and loss accounts of the companies in which we invest," said Garrett-Cox.