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Annual Results

Bankers Investment Trust NAV up

19 January 2017 07:52

Bankers Investment Trust's net asset value increased by 19.9% in the year to the end of October.

The company also achieved its 50th consecutive year of dividend increase - up 7.6% - and has forecast an increase of at least 6% for 2017.

Chairman Richard Killingbeck said these were significant achievements during a volatile year in financial markets.

Looking ahead, he said: "Politics will remain to the fore during the year ahead and the key for financial markets will be whether there are any further surprises, especially from Europe.

"I suspect there may be.

"The extent of these potential surprises could keep markets in a state of uncertainty for most of the year which will make it even harder for the fund managers to position the regional portfolios correctly.

"Putting politics aside, the economic tailwind looks positive.

"President Trump has inherited a strong economy where growth is accelerating.

"The strong US economy, despite the protectionist rhetoric, is good for the global economic outlook.

"In the UK we are bound to see a significant jump in inflation as a result of the weaker level of sterling.

"One of the key debates this year will be whether the move to higher inflation is a temporary or permanent shift.

"At the moment the likelihood is that this will be a temporary situation.

"However, if we see pressure mounting on wage inflation the Bank of England might move more quickly to raise interest rates.

"Depending upon the resilience of the UK economy in 2017 this could have a negative impact on a number of sectors although it could well be seen as a positive for the financial sector."

Story provided by StockMarketWire.com

Related Company: BNKR

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