The Diverse Income Trust PLC Fund Data

The Trust's dividends to shareholders have grown progressively since issue, even through the pandemic when many UK-quoted companies cut their dividends. This contrasts with the ComputerShare Dividend Monitor data indicating that dividend growth from the UK stock market has not significantly increased over the last decade. Alongside, the trust continues to have one of the strongest total return records in the IT UK Equity Income sector since issue in April 2011. Yet over recent decades, funds such as Exchange Traded Funds, (baskets of investments, such as shares or bonds, that can be bought and sold on the stock market just like a share), have become popular. Investment trusts have lost out somewhat, so they often comprise a smaller portion of large investors' portfolios than previously. Each year shareholders in the Diverse Income Trust have the option of redeeming their holding in the trust at the underlying portfolio value (known as the Net Asset Value or NAV per share). At times when a large number of investors take this option, an equal slice of portfolio holdings has been sold, and the money raised paid out to meet the redemption requests. This led to two negatives for longer-term shareholders over recent years. 1. With significant redemptions recently, the scale of the trust's portfolio assets has fallen. As the fixed costs of the trust have been spread over a reduced number of shareholders, the cost per share have increased. 2. Institutional selling of the trust has often exceeded daily market buyers, and its share price has fallen somewhat behind its daily Net Asset Value. Given this background, and having consulted with the trust's major shareholders, The Board will be putting forward proposals giving shareholders the opportunity to roll into shares in the Premier Miton UK Multi Cap Income Fund. There will also be a cash exit option.

The Trust's dividends to shareholders have grown progressively since issue, even through the pandemic when many UK-quoted companies cut their dividends. This contrasts with the ComputerShare Dividend Monitor data indicating that dividend growth from the UK stock market has not significantly increased over the last decade. Alongside, the trust continues to have one of the strongest total return records in the IT UK Equity Income sector since issue in April 2011. Yet over recent decades, funds such as Exchange Traded Funds, (baskets of investments, such as shares or bonds, that can be bought and sold on the stock market just like a share), have become popular. Investment trusts have lost out somewhat, so they often comprise a smaller portion of large investors' portfolios than previously. Each year shareholders in the Diverse Income Trust have the option of redeeming their holding in the trust at the underlying portfolio value (known as the Net Asset Value or NAV per share). At times when a large number of investors take this option, an equal slice of portfolio holdings has been sold, and the money raised paid out to meet the redemption requests. This led to two negatives for longer-term shareholders over recent years. 1. With significant redemptions recently, the scale of the trust's portfolio assets has fallen. As the fixed costs of the trust have been spread over a reduced number of shareholders, the cost per share have increased. 2. Institutional selling of the trust has often exceeded daily market buyers, and its share price has fallen somewhat behind its daily Net Asset Value. Given this background, and having consulted with the trust's major shareholders, The Board will be putting forward proposals giving shareholders the opportunity to roll into shares in the Premier Miton UK Multi Cap Income Fund. There will also be a cash exit option.