Analyst Research Report Snapshot

Title:

CITY NATURAL RESOURCES HIGH YIELD TRUST - STRONG DIVIDEND GROWTH

Price:

$10.00

Provider:

Edison Investment Research

Date:

24 Sep 2012

Pages:

8

Type:

AcrobatPDF

Companies referenced:

CYNL.L BRCI.L BRWM.L BSRT.L ELO.V EOSB.CA GCLq.L NCE.L

Available for Immediate Download
Summary:

City Natural Resources High Yield Trust (CYN) is one of just three UK investment trusts to focus exclusively on natural resources. Economic growth concerns led the sector to underperform the broader market in recent months, particularly between March and May. Some mining project cost issues also became prominent. CYN has experienced a rare period of weakness against its benchmark. Favoured companies were added to and the manager believes this, an improved emphasis on shareholder returns by mining companies and QE expansion will support performance. Since New City became manager in 2003 CYN has returned 497.5% (NAV total return) and 414.0% (share price total return) vs total returns of 251.9% and 98.0% from its composite benchmark and FTSE World indices. Total dividends for the last financial year grew 14.5% and CYN has over a year of revenue reserves. The board expects continued dividend growth.

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