The Bankers Investment Trust PLC
Update for the half year ended 30 April 2025
Investing in bright ideas around the world
Contents
Flexible and pragmatic global investing
Performance highlights
Chair's statement
05 Fund manager's report 07 A snapshot of our global
portfolio
10 Financial summary
Additional information
Corporate informationCorporate information
This Update contains material extracted from the unaudited results of the Company for the six months ended 30 April 2025. The unabridged results for the half year are available on the Company's website:
1 The Bankers Investment Trust PLC Half Year 2025
https://www.bankersinvestmenttrust.com
Flexible and pragmatic global investing
The Bankers Investment Trust PLC
Investment Objective
Over the long-term, the Company aims to achieve capital growth in excess of the FTSE World Index and dividend growth greater than inflation, as measured by the UK Consumer Price Index, by investing in companies listed throughout the world.
Investment focus
Financial summary
Growth & Income
Regional focus
Global
Flexible and pragmatic global investing
Flexibility to invest d
globally
Bankers has the flexibility to invest in any geographic region and any sector with no set limits on individual
Additional information
country or sector exposures.
Regional Breakdown
Equities excluding cash held
As a percentage of the investment portfolio
As at 30 Apr | As at 31 Oct | ||
2025 | 2024 | ||
% | % | ||
59.9 | 49.6 | ||
21.0 | 25.6 | ||
11.5 | 13.5 | ||
7.6 | 11.3 |
Source: Janus Henderson
Corporate information
The Bankers Investment Trust PLC Half Year 2025 1
Performance highlights
Six months to 30 April 2025
Performance
NAV per share1
total return 2025
-4.0%
(2024: 17.5%)
NAV per share1
At 30 April 2025
121.5p
(2024: 125.5p)
Share price2
total return 2025
0.1%
(2024: 21.5%)
Share price
At 30 April 2025
109.6p
(2024: 112.2p)
Dividends paid or declared in respect of the period3
1.372p
(2024: 1.344p)
Revenue return per share
1.16p
(2024: 1.31p)
6 months | 1 year | 3 years | 5 years | 10 years | |
% | % | % | % | % | |
NAV1 | -4.0 | -1.1 | 14.8 | 49.3 | 129.2 |
Share Price2 | 0.1 | 0.0 | 11.5 | 35.7 | 118.1 |
FTSE World index4 | -2.6 | 5.3 | 29.5 | 83.9 | 144.4 |
Total return performance
to 30 April 2025
1 Net asset value total return per share with income reinvested and with debt at fair value, see page 11
2 Share price total return using mid-market closing price
3 The first interim dividend for 2025 was paid on 30 May 2025; the second interim dividend has been declared and will be paid on 29 August 2025
4 For 10 years, the benchmark is a composite of the FTSE World Index and the FTSE All-Share Index
Sources: Janus Henderson, Morningstar Direct and LSEG Datastream
2 The Bankers Investment Trust PLC Half Year 2025
Chair's statement
Chair's statement
Dear Shareholder,
Performance
The first half of the year has been dominated by the impact on markets of Donald Trump's election. The positive
Financial summary
market enthusiasm which accompanied Trump's victory in November had evaporated by early April when he announced a swathe of much higher-than-expected tariffs on all US trading partners. My last statement highlighted that the greatest uncertainty this year would be the outcome of US tariffs. Share prices fell from their peak in February, as the new administration started discussing plans for trade tariffs on imported goods to the US market. Markets do not like uncertainty and investors sold both bonds and equities, forcing down the value of the US dollar. Performance was positive in
Europe and Japan where governments are finally tackling slower growth with more reforms and increased spending plans.
Additional information
Your Company has delivered a net asset value total return over the six months ended 30 April 2025 of -4.0% (six months
to 30 April 2024: +17.5%) and a share
price total return of +0.1% (2024: +21.5%), compared with the FTSE World Index benchmark total return of -2.6% (2024:
Corporate information
+16.6%) over the same period. Most of the underperformance in the portfolio happened in November, following a sharp rise in US stocks associated with the new administration's policies. Over the remainder of the period, the portfolio outperformed its benchmark, and this outperformance continued through May. The Fund Manager discusses the key drivers of performance in his report.
The Bankers Investment Trust PLC Half Year 2025 3
The Board will continue to deliver the Company's progressive dividend policy of successive annual dividend growth which it has achieved every year over the past 58 years."
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Disclaimer
The Bankers Investment Trust plc published this content on July 02, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on July 02, 2025 at 15:04 UTC.
