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North American Income Trust has been managed by Ralph Bassett and Fran Radano, experienced investors in Aberdeen Standard Investments’ North American equities team operating from Philadelphia, since 2015. They have managed to deliver steady long-term returns.
The portfolio delivers a solid yield of 3% at present, paid in quarterly dividends. The managers target a progressive and above-average dividend, and long-term capital growth from investing predominantly in S&P 500 constituents.
They defensive portfolio has a “thoughtful balance” of bellwether, low-volatility stocks, such as enduring consumer staples brands and global healthcare franchises, combined with cash-generative growth companies. The trust has modest amounts in industrials and technology stocks. At the end of 2019, the trust’s largest sector exposure was financials, at just over a quarter of the portfolio. The equity portfolio typically has around 40 holdings. The managers are also able to hold fixed income securities and may use derivatives for risk management and income enhancing purposes.
Bassett and Radano take a team-based, research-intensive approach. They meet with all the companies they invest in so that they can understand their business models as well as trying to spot any weaknesses.
Past performance of the underlying constituents is not a guarantee of future performance. The value of investments, and any income from them, can fall as well as rise so you could get back less than you invest.
Annual performance can be found on the factsheet of each fund, trust or ETF. Simply click on the asset’s name and then the performance tab.
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