The Brunner Investment Trust - Managing well through choppy waters

The Brunner Investment Trust’s (BUT’s) lead manager is Matthew Tillett at Allianz Global Investors. He is ‘delighted’ by the fund’s relative performance so far in 2022, given elevated levels of share price volatility, and points to the balanced investment approach whereby the portfolio is not overexposed to a single factor within the global stock market. He has taken advantage of this volatility to improve the growth profile of BUT’s portfolio as he has been able to invest in some high-quality companies whose valuations would normally be considered prohibitive for the fund, including US software developer Adobe. BUT’s board has just announced the FY22 first interim dividend, which is 9.6% higher year-on-year despite the challenging market backdrop, and it highlighted the trust’s healthy revenue reserves and portfolio income that is comfortably above pre-pandemic levels.