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Brunner Investment Trust makes changes to its management; plans to at least maintain its dividend this year

Published: 08:12 13 May 2020 BST

The Brunner Investment Trust -
Manager Allianz has created a new Global Growth team

Brunner Investment Trust PLC (LON:BUT) has announced a change of portfolio manager and plans to at least maintain its dividend in this financial year.

Lucy Macdonald has stepped down with Matthew Tillett, who has worked closely on Brunner for a number of years, now to take on the lead management role supported by global equity managers Jeremy Kent and Marcus Morris-Eyton.

In a statement, Brunner added that Morris-Eyton is a long-standing member of the European Growth team of Allianz Global Investors (AGI), the trust’s investment manager.

AGI said the changes were made to create a new Global Growth team to manage global equity products led by Thorsten Winkelmann and to bring together its global equity products and capabilities into one place. 

This new expanded team will manage over £21bn of assets

Carolan Dobson, Brunner’s chairman, said: "We would like to thank Lucy for the huge contribution that she has made to help us get the company to where we are now. 

"The Brunner Investment Trust is in a good place. The discount has narrowed significantly over the last few years and we have steadily increased the proportion of our shares held by wealth managers and platforms which now stands at around 40%.

"As an AIC dividend hero with rising dividends for 47 consecutive years, we believe in the benefits of delivering steady dividend growth.

“Prudent management of the company's revenue account has left the company in the strong position of having 28.6p of revenue reserves per share compared to last year's dividend of 19.98p and the Board expects to at least maintain this level of dividend in this financial year."

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