Mowi boosts Aberdeen Standard Investment’s fund.
Aberdeen Standard investment’s Dunedin Income Growth Investment Trust has a high portfolio of UK and overseas companies that help it “to deliver a resilient quarterly income and long-term capital growth potential”.
The investment trust, which was founded in 1873, posted its half-yearly report for the six months ended 31 July 2019, on the London Stock Exchange on Thursday.
Dunedin Income Growth Investment Trust reported total assets this year of GBP 495.8 million, up 5.2% from last year.
It wrote: “During the period under review we initiated new positions in ASML, Mowi, Sirius Real Estate, Smith & Nephew and WH Smith. All five of these businesses offer resilient growth prospects and, importantly, add further differentiated exposure to the portfolio”.
“Norwegian listed Mowi is the world’s largest producer of farmed salmon, supplying healthy and sustainably farmed seafood to over 70 countries. Demand for salmon is growing globally, whilst supply is constrained by regulation, meaning that the medium to long term growth outlook is promising for Mowi which has an advantage over its peers of scale and vertical integration. Cash generation is strong, underpinning a consistent and growing dividend for shareholders”.
