The Diverse Income Trust plc Fund Data

Billions and billions of new capital has continued to be committed to building new Artificial Intelligence datacentres. Given the potential shortfall of various supplies, such as semiconductors, some company share prices linked to these industries rose dramatically during April. This led to many global stock markets moving up to record new highs during the month. Meanwhile, the open-ended risks regarding the Iran conflict persisted. Aside from CML Microsystems and Raspberry Pi, the Diverse Income Trust portfolio was not a direct beneficiary of the semiconductor trend. Even so, it continued to perform well during April. The strongest portfolio contributions came from TP/CAP, a broker that helps institutional investors buy and sell global bonds. Whilst its share price had already increased, it rose a further 21% in April. Alongside, the share price of Concurrent Technologies, a supplier of rugged single board computers for the military, also appreciated by 21% following the release of its company results. The share prices of Paypoint, Victorian Plumbing, Plus500 and CMC Markets were also strong, with each contributing at least 0.2% of the trust's return during April. At the first General Meeting on 12 May, shareholders approved the proposals set out in the Circular to rollover their investment in the trust into shares in the Premier Miton UK Multi Cap Income Fund, alongside an option to exit for cash. Anticipating that some shareholders would elect for cash, the trust portfolio held just under 20% in cash at the month end. The scheme is expected to become effective on 26 June, following the appointment of liquidators. **Gervais Williams & Martin Turner** 30.04.2026

Billions and billions of new capital has continued to be committed to building new Artificial Intelligence datacentres. Given the potential shortfall of various supplies, such as semiconductors, some company share prices linked to these industries rose dramatically during April. This led to many global stock markets moving up to record new highs during the month. Meanwhile, the open-ended risks regarding the Iran conflict persisted. Aside from CML Microsystems and Raspberry Pi, the Diverse Income Trust portfolio was not a direct beneficiary of the semiconductor trend. Even so, it continued to perform well during April. The strongest portfolio contributions came from TP/CAP, a broker that helps institutional investors buy and sell global bonds. Whilst its share price had already increased, it rose a further 21% in April. Alongside, the share price of Concurrent Technologies, a supplier of rugged single board computers for the military, also appreciated by 21% following the release of its company results. The share prices of Paypoint, Victorian Plumbing, Plus500 and CMC Markets were also strong, with each contributing at least 0.2% of the trust's return during April. At the first General Meeting on 12 May, shareholders approved the proposals set out in the Circular to rollover their investment in the trust into shares in the Premier Miton UK Multi Cap Income Fund, alongside an option to exit for cash. Anticipating that some shareholders would elect for cash, the trust portfolio held just under 20% in cash at the month end. The scheme is expected to become effective on 26 June, following the appointment of liquidators. **Gervais Williams & Martin Turner** 30.04.2026