“The referendum in September is creating uncertainty for our customers and our business, which we have a responsibility to address. Regardless of the outcome it is critical that we are able to provide continuity of service and protection for their investments and savings,” chief executive Katherine Garrett-Cox said.
The trust reported its first full-year profit for eight years in its annual results for 2013 of nearly 83%. Pre-tax profit rose to £462m, up from £253m in 2012.
Assets under management rose by 16% in the period, after the trust closed two non-core funds and wrapped up the rebrand of its Sustainable and Responsible Investment Funds, now known as Trust Sustainable Future Funds.
Assets under administration also saw growth, and increased 33% to £5.4bn, while the total dividend for the year saw a year-on-year upswing of 12.5% to 10.83p.
“After five years of hard work and significant change at Alliance Trust, this year we have started to reap the rewards of that change,” Garrett-Cox commented.
“The 12.5% increase to the dividend this year has been driven by rising income from all parts of the investment portfolio, including increased exposure to equities, income from our holding in the Monthly Income Bond Fund and a doubling of the royalty income from our legacy mineral rights in North America.”
“We know that we cannot afford to stand still, as change, be it regulatory, political or business-related, is a critical part of the world in which we operate. However, we have the people, the systems and a clear strategy in place to be able to recognise and exploit the investment opportunities that may arise, which will allow us to continue to build a dynamic and successful business for our shareholders.”
