Title: 

URL Source: https://is.gd/poLLuY

Published Time: Wed, 18 Jun 2025 21:08:48 GMT

Markdown Content:
# CT Global Managed Portfolio Trust PLC Income 

# As at 31 May 2025 

inv.trusts@columbiathreadneedle.com | 0345 600 3030 | ctglobalmanagedportfolio.co.uk Page 1 of 3

Fund manager 

Peter Hewitt 

Manager Commentary 

May was a positive month for returns from most global equity markets. The pausing of the imposition of tariffs by the US in mid -

April, to allow for countries to negotiate bilateral trade deals with the US, was greeted with a major sigh of relief. It see ms the 

extreme levels of tariffs may be moderated and th at prospects for growth might not be as badly damaged as first feared. 

Whether this is merely delaying the worst, or indeed genuine progress is made with lowering tariffs, remains to be seen. The UK 

became the first country to agree a trade deal with the U S and while details are scarce, it appears the UK may be better placed 

relative to others, e.g. the European Union. Stock markets rallied strongly. In the UK, the economy continues to perform slig htly 

better than expected, with growth, albeit still at low levels, showing signs of strengthening. 

Against this background the FTSE All -Share Index rose 4.1% and the FTSE All -Share Closed End Investments Index gained 

5.1% (both in total returns). The average sector discount narrowed slightly to 15%, which is welco me although still a historically 

wide figure. 

The net asset value of the Income Portfolio was ahead by 4.4% over the month. A notable feature was that the FTSE 250 Index 

(6.1%) and the FTSE Small Cap Index ex -Investment Trusts (7.8%) outperformed the FTSE 100 (3.8%). This is positive for 

active fund managers who are typically overweight medium -sized and smaller companies because they tend to have better 

growth prospects and are often more attractively valued than their larger counterparts. Many of the bette r performers for the 

Income Portfolio were UK equity trusts, led by JPMorgan UK Small Cap Growth & Income, which was up 11.8%; Lowland 

Investment Company, which gained 9.6%; and Diverse Income Trust , which was ahead by 8.9%. The principal detractor was 

Int ernational Biotechnology, which fell by 8.6% due to continuing concerns over the healthcare sector in the US. 

Key risks 

Stock market movements may cause the value of investments and the income from them to fall as well as rise and 

investors may not get back the amount originally invested. Changes in rates of exchange may have an adverse effect on 

the value, price or income of investments. If markets fall, gearing can magnify the negative impact on performance. 

Key facts as at 31.05.2025 

Trust aims: The objective for the Income Portfolio is 

to provide income shareholders with an attractive 

level of income, with the potential for income and 

capital growth from a diversified portfolio of 

investment companies. The Income Portfolio invests 

in a diversified portfolio of at least 

25 investment companies that have underlying 

investment exposures across a range of geographic 

regions and sectors and that focus on offering an 

income yield above that of the FTSE All - Share 

Index. 

Benchmark: FTSE All -Share Index 

Fund type: Investment Trust 

Launch date: April 2008 

Total assets - portfolio: £68.0 million 

Total assets - company: £159.4 million 

Share price: 115.50p 

NAV: 113.35p 

Discount/premium( -/+): 1.90% 

Net dividend yield †: 6.60% 

Net gearing/Net cash*: -9.3% / 0.0% 

Management fee rate**: 0.65% 

Ongoing charges**: 1.20% 

Year end: 31 May 

Sector: Flexible Investment 

Currency: Sterling 

Website: ctglobalmanagedportfolio.co.uk 

**Ongoing charges is calculated excluding charges of the 

Company’s underlying investments. Please refer to the 

latest annual report. 

Morningstar rating †CT Global Managed Portfolio Trust PLC Income 

inv.trusts@columbiathreadneedle.com | 0345 600 3030 | ctglobalmanagedportfolio.co.uk Page 2 of 3

Fund performance as at 31.05.25 

Cumulative performance as at 31.05.25 (%) 

1 Month YTD 1 Year 3 Years 5 Years 

NAV 4.42 3.89 4.24 3.25 31.24 

Share price 7.94 4.85 3.63 6.39 30.45 

Benchmark 4.14 8.57 9.35 26.79 69.03 

Discrete annual performance as at 31.05.25 (%) 

2025/24 2024/23 2023/22 2022/21 2021/20 

NAV 4.24 7.02 -7.45 -1.44 28.97 

Share price 3.63 5.13 -2.33 -4.38 28.22 

Benchmark 9.35 15.44 0.44 8.27 23.13 

Past performance is not a guide to future performance. Source: Lipper and Columbia Threadneedle Investments. Basis: Percentage growth, total return, bid to bid price with net income 

reinvested in sterling. The discrete performance table refers to 12 month periods, ending at the date shown. 

Trust codes 

Stock exchange code: CMPI 

Sedol: B2PP3J3 

Top 10 holdings (%) 

% of net assets Sector 

The Law Debenture Corporation 5.9 UK Equity Income 

Murray International Trust 4.5 Global Equity Income 

The Mercantile Investment Trust 4.3 UK All Companies 

JPMorgan Global Growth & Income 4.3 Global Equity Income 

NB Private Equity Partners 4.1 Private Equity 

The City of London Investment Trust 3.9 UK Equity Income 

Temple Bar Investment Trust 3.8 UK Equity Income 

The Merchants Trust 3.7 UK Equity Income 

JPMorgan European Growth & Income 3.7 Europe 

3i Infrastructure 3.7 Infrastructure       

> All figures are subject to rounding. SHOW
> 0
> 10
> 20
> 30
> 40
> 50
> 60
> 70
> 80
> 1 Month YTD 1 Year 3 Years 5 Years
> %

NAV Share Price Benchmark CT Global Managed Portfolio Trust PLC Income 

# To find out more visit columbiathreadneedle.com 

All information is sourced from Columbia Threadneedle Investments, unless otherwise stated. Except where noted, all percentag es are based on gross assets. 

*Net gearing is total assets less cash and cash equivalents divided by shareholders’ funds and expr essed as a percentage. Net cash is net exposure to cash and cash equivalents expressed 

as a percentage of shareholders funds after any offset against gearing. **Please refer to the latest annual report as to how the management fee is structured along with an explanation of the 

calculation. Please note, ongoing charges of the Company’s underlying investments have not been included. The share price may either be below (at a discount) or above (at a premium) the 

NAV. Discounts and premiums vary continuously. P erformance information excludes any product charges which can be found in the Key Investor Document (“KID”) for the relevant product. 

†The aggregate dividends for the financial year to 31 May 2025 will be 7.60 pence per Income share. The dividend yield is therefore based on a rate of 7.6 pence per Income share . In the 

absence of unforeseen circumstances, for the financial year to 31 May 2026, it is the Board’s current intention to pay four q uarterly dividends each of at least 1.90 pence per Income share and 

that the aggregate dividends will be at least 7.60 pence per Income share (2025: 7.60 pence per Income share). 

© 2025 Columbia Threadneedle Investments. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. 

This financial promotion is issued for marketing and information purposes only by Columbia Threadneedle Investments in the UK .

CT Global Managed Portfolio Trust PLC is an investment trust and its Income Shares are traded on the main market of the London Stock Exchange. 

English language copies of the key information document (KID) can be obtained from Columbia Threadneedle Investments, Cannon Place, 78 Cannon Street, London EC4N 6A. Email: 

inv.trusts@columbiathreadneedle.com or electronically at www.columbiathreadneedle.com. Please read before taking any investment decision. 

The information provided in the marketing material does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transa ct in the fund. 

The manager has the right to terminate the arrangements made for marketing. 

FTSE International Limited (“FTSE”) © FTSE 2025. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited und er licence. All 

rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any l iability for any errors or omissions in the FTSE indices and/or FTSE 

ratings or underlying data. No further distrib ution of FTSE Data is permitted without FTSE’s express written consent. 

Financial promotions are issued for marketing and information purposes; in the United Kingdom by Columbia Threadneedle Manage ment Limited, which is authorised and regulated by the 

Fina ncial Conduct Authority; in the EEA by Columbia Threadneedle Netherlands B.V., which is regulated by the Dutch Authority for the Financial Markets (AFM); and In Switzerland: Issued by 

Threadneedle Portfolio Services A.G, acting as representative office of Columbia Threadneedle Management Limited. In the Middle East: This document is distributed by Columbia 

Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA). For Distributors: This document is intended t o provide distributors with 

information about Group products and services and is not for further distribution. For Institutional Clients: The information in this document is not intended as financial advice and is only 

intended for persons with appropriate investment knowledge and who meet the regulatory criteria to be classified as a Professional Client or Market Counterparties and no other Person should 

act upon it.   

> †© 2025 Morningstar. All Rights Reserved. Ratings are latest available at time of publication and may be lagged 1 month. The i nformation contained herein: (1) is proprietary to Morningstar and/or its
> content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible fo r any damages or losses
> arising from any use of this information. Past performance is no guarantee of future results. For more deta iled information about Morningstar Rating, including its methodology, please click here .

inv.trusts@columbiathreadneedle.com | 0345 600 3030 | ctglobalmanagedportfolio.co.uk Page 3 of 3

Geographical breakdown (%) 

The geographical breakdown of the Portfolio’s investments is on a ‘look -through’ basis. 

Source: Columbia Threadneedle Investments and AIC. 

Net Dividend distributions pence per share (paid) / (declared) with respect 

to the financial year to 31 May 

2020 2021 2022 2023 2024 2025 

October 1.40 1.40 1.55 1.67 1.80 1.85 

January 1.40 1.40 1.55 1.67 1.80 1.85 

April 1.40 1.40 1.55 1.67 1.80 1.85 

July 1.90 2.00 2.00 2.19 2.00 2.05 

Total 6.10 6.20 6.65 7.20 7.40 7.60 

Glossary 

Bid price Investment trust shares are sold via the stock exchange at the bid 

price. This price is determined by supply and demand. 

Dividend Income paid to shareholders by the company they invest in. 

Net asset value A key measure of the value of a company or trust – the total value 

of assets less liabilities, divided by the number of shares. 

 UK 41.0% 

 North America 23.0% 

 Europe 17.0% 

 Far East & Pacific 10.0% 

 Cash 4.0% 

 Japan 3.0% 

 Other 1.0% 

 China 1.0%