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In this episode of Trust Issues, we speak to Rebecca Maclean, the Co-Manager of the Dunedin Income Growth Investment Trust (DIG). As the trust celebrates its 150th anniversary, we speak to Rebecca about what the trust's strategy is, as well as looking at a number of the companies in the portfolio and what the thinking behind the investments in them was. You can skip to individual questions using the links below:
00:00 - Risk warnings
01:08 - What is Dunedin Income Growth?
03:07 - Why invest in European stocks and UK mid-caps?
05:53 - How does writing options support your investments?
07:30 - Why do you run such a concentrated portfolio?
09:46 - Are companies in the portfolio still seeing good dividend cover and how do you respond if a company cuts its dividends?
13:38 - Why invest in European companies? What companies are you invested in at the moment?
16:31 - You have a strong ESG mandate but an oil company is one of your largest holdings. What is the thinking here? 22:04 - Why are UK valuations so low? Do you think there is anything that could cause this to change?
27:00 - Do you have any thoughts on more M&A activity in the UK stock market?