Overview
Focusing on quality companies in an uncertain world
What does the Trust do?
STS Global Income & Growth Trust aims to be the high quality, low volatility global income and growth investment trust.
Why this Trust?
The Trust aims to meet the needs of investors looking for a growing level of income and steady capital growth over the long term, whilst also wanting to preserve the value of their money.
Trust Ratings
© 2024 Morningstar, Inc. All Rights Reserved.
Literature
Document name | Date | Open/download | All documents |
---|---|---|---|
Factsheets | All documents | ||
Circular |
View document Download document | ||
Proposed amendments to the articles of association |
View document Download document | ||
Newsletters | All documents | ||
Key Information Document – UK |
View document Download document | ||
Key Information Document – EU |
View document Download document | ||
Past Performance scenarios |
View document Download document | ||
10 year Performance Chart |
View document Download document | ||
Annual Reports | All documents | ||
Interim Reports | All documents | ||
Investor Disclosure Document |
View document Download document |
-
Factsheets
Date: June 2024 View All documents OpenDownload
- Open Download
- Open Download
-
Newsletters
Date: Income Matters No.6 View All documents OpenDownload
- Open Download
- Open Download
- Open Download
- Open Download
-
Annual Reports
Date: 2024 View All documents OpenDownload
-
Interim Reports
Date: 2023 View All documents OpenDownload
- Open Download
Performance
Discrete Calendar Annual Returns (%) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | YTD | Ann Return * |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
STS Global Income & Growth Trust PLC | +19.4 | +0.8 | -5.4 | +35.8 | +6.8 | -7.9 | +39.3 | +0.9 | +16.3 | +1.0 | -0.7 | +0.2 | +8.0 |
Lipper Global Equity Global Income | +16.3 | +9.5 | -0.4 | +25.9 | +8.2 | -6.2 | +16.8 | +3.1 | +15.4 | +0.4 | +7.1 | +6.3 | +7.4 |
*Since Launch 28 June 2005
Past performance is not a guide to future performance.
The value of the Trust, and any income from it, may go down as well as up and investors may get back less than they invested. Returns may increase or decrease as a result of currency fluctuations. This data is provided for information only and should not be reproduced, published or disseminated in any manner. Although we consider the data to be reliable, no warranty is given as to its accuracy or completeness. Any comparisons against indices are for illustrative purposes only.
Source: Lipper, 30 June 2014 to 30 June 2024.
To see the past performance of Troy’s Global Income Strategy please click here and navigate to the performance section of the page.
Risk analysis
Risk Analysis | STS Global Income & Growth Trust PLC | Lipper Global Equity Global Income |
---|---|---|
Total Return | 112.1 | 105.0 |
Max Drawdown | -34.3 | -25.3 |
Best Month | 12.2 | 9.7 |
Worst Month | -10.1 | -12.7 |
Positive Months | 59.2 | 63.3 |
Annualised Volatility | 13.1 | 10.3 |
Past performance is not a guide to future performance.
Maximum Drawdown measures the worst investment period. Annualised Volatility is measured by standard deviation of annual returns.
The value of the Trust, and any income from it, may go down as well as up and investors may get back less than they invested. Returns may increase or decrease as a result of currency fluctuations. This data is provided for information only and should not be reproduced, published or disseminated in any manner. Although we consider the data to be reliable, no warranty is given as to its accuracy or completeness. Any comparisons against indices are for illustrative purposes only.
Source: Lipper, 30 June 2014 to 3 June 2024.
Dividends
Past performance is not a guide to future performance. Income generated (if any) may fall as well as rise.
Discount control
STS Global Income & Growth Trust implemented a Discount Control Mechanism on the 17th November 2020.
This discount control policy is to ensure that the Ordinary shares trade at, or close to, net asset value at all times. The discount control mechanism also serves to materially enhance the liquidity of the Company’s shares. This is ensured through a combination of share buy-backs at a modest discount NAV when supply exceeds demand for the Company’s shares and the issue of new Ordinary shares at a premium to net asset value where demand exceeds supply. The Directors will continue to seek the renewal of the Company’s authority to buy back Ordinary shares annually and at other times should this prove necessary. Purchases of Ordinary shares will only be made through the market for cash at prices below the prevailing net asset value of the Ordinary share. The Directors will be authorised to cancel any Ordinary shares purchased under such authority or to hold them in Treasury. The Directors will continue to seek the renewal of the Company’s authority to issue shares but will only do so when they believe it is advantageous to the Company’s shareholders and for the purposes of operating the Company’s discount policy. In no circumstances would such issue of new shares result in a dilution of the net asset value per share.
Trust announcements
Performance data provided relating to the NAV is calculated net of fees with income reinvested unless stated otherwise. Overseas investments may be affected by movements in currency exchange rates. The value of an investment and any income from it may fall as well as rise and investors may get back less than they invested. The historic yield reflects distributions declared over the past twelve months as a percentage of the Trust’s price, as at the date shown. It does not include any preliminary charge and investors may be subject to tax on their distributions. Tax legislation and the levels of relief from taxation can change at any time. Any change in the tax status of a Trust or in tax legislation could affect the value of the investments held by the Trust or its ability to provide returns to its investors. The yield is not guaranteed and will fluctuate. There is no guarantee that the objective of the investments will be met. Investment trusts may borrow money in order to make further investments. This is known as “gearing”. The effect of gearing can enhance returns to shareholders in rising markets but will have the opposite effect on returns in falling markets. Shares in an Investment Trust are listed on the London Stock Exchange and their price is affected by supply and demand. This means that the share price may be different from the NAV.
For the full trust disclaimer please refer to the Trust fact sheet.
How to invest
Find more information on how to invest in this trust and where it is available.
How to invest
Commentary
June Commentary
The Trust produced a Net Asset Value total return of -0.0% during the month and a price total return of -0.2%, compared to a return of +0.8% for the Lipper Global – Equity Global Income Index.
Democracy has been living up to the Churchillian observation that it is “the worst form of government except for all others”. 2024 is notable in that there are 97 elections due to take place globally covering half the world’s population. In this corner of the planet the most notable recently have been the campaigns in the UK, US and France with the recent US Presidential debate being the most impactful/depressing. In our view, election campaigns generally produce more heat than light but even these low expectations weren’t met by the quality of the debate and the performance of President Biden.
France appears to be following the observable global trend of increasing political polarisation, with Marine Le Pen of the far-right party National Rally looking likely to take a material proportion of the vote. Meanwhile in the UK the whole event is likely to finish not with a bang but a whimper as the Conservative Party is ejected in favour of Labour for the first time in 14 years.
Generally, politics has little bearing on the way we invest. Low turnover in our portfolios (c.10% per annum) means our typical investment holding period is longer than a government term. Outside politically inspired disasters the underlying long-term economics of a business are a far more important driver of returns than the current incumbent of number 10 Downing Street or the equivalent elsewhere.
Perhaps the UK is the exception that proves the rule. Years of being in the political and capital markets doghouse may be ending as a solid left-of-centre government may lead to a degree of stability and more strategic policy making. Given many global companies listed in the UK look cheap relative to peers this may prove a boon for the portfolio. We have a meaningful allocation of capital to this market on a listed basis even as the exposure on an underlying revenue basis is much more limited.
.