He said: “In 2016 there were people wondering whether the HSBC dividend was sustainable, or whether the dividends of the big oil companies would be cut, those fears have been allayed.”
William Meadon, who runs the JPMorgan Claverhouse Investment Trust, which has increased its dividend for each of the past 44 years, said “no one thinks the oil companies are going to cut their dividends now”.
James Pigotts, who runs Pigotts Investments, an adviser firm in Dorking, said: “Job is a steady Eddie! It works for income investors and for lower risk capital preservation portfolios. Income should always be part of any portfolio and City produces a reasonable yield with lower risk than most equity trusts.
"The 50 years of increasing dividends makes it a flagship. Investment trusts are great for income as they can smooth any bumps when companies fail to pay dividends, and we have had plenty of those recently! Can't fault it really."
David.Thorpe@ft.com
