Caledonia is one of the UK's largest investment trusts and is self-managed. It aims to be a core investment for those seeking a store of increasing value by investing for the longer term in a range of assets.
Jonathan Cartwright, finance director of Caledonia Investments, says: "Notwithstanding the current economic climate, we expect to maintain a progressive dividend policy because we have substantial distributable reserves build up over many years. Caledonia has been able to grow its annual dividend each year over the last 41 years as a result of successful, longer-term portfolio investment. This has created the reserves which underpin our dividend policy.
"We cannot predict the future. However, with over £250m of distributable reserves, the company's progressive dividend policy is not so dependent on a constant year-on-year growth in income. To set this in context, last year's annual dividend cost £18.7m which, at that level, was covered many times over by existing reserves - even before adding yearly income which might be generated in the future."
| CALEDONIA INVESTMENTS (CLDN) | |||
|---|---|---|---|
| PRICE | 1,322p | NAV | 1599.3p |
| SIZE OF FUND | £777m | PRICE DISCOUNT TO NAV | -16.72 |
| No OF HOLDINGS: | 1 YEAR PERFORMANCE | -36.85 | |
| SET UP DATE | 18 Jul 60 | 3 YEAR PERFORMANCE | -12.1 |
| MANAGER START DATE | 5 YEAR PERFORMANCE | 5.72 | |
| TURNOVER | na | TOTAL EXPENSE RATIO | 1.46% |
| VOLATILITY | na | YIELD | 2.47 |
| TRACKING ERROR | na | MORE DETAILS | caledonia.com |
| SHARPE RATIO | -0.84 | ||
| TOP TEN HOLDINGS | % |
|---|---|
| Close Brothers | 10.4 |
| British Empire Securities | 10.3 |
| Oval Insurance | 6.6 |
| Cobepa | 5.5 |
| Bristow Group | 4.3 |
| Eddington Capital funds | 4 |
| Rathbone Brothers | 3.6 |
| FTSE index options | 3.2 |
| Polar Capital funds | 2.7 |
| Satellite Information Services | 2.7 |
| SECTOR BREAKDOWN | % |
|---|---|
| Funds | 30 |
| Financial | 29 |
| Industrial | 11 |
| Consumer | 10 |
| Oil & Gas | 8 |
| Property | 7 |
| Cash & Other | 5 |
Source: Fact Sheet, Morningstar & Datastream
