Alliance Trust Savings: Change of Ownership
Please note that, as of 28 June, Alliance Trust Savings (ATS) is owned by Interactive Investor Limited. If you have any questions about the sale of ATS and what it means for you, please visit ATS’ website*. If you’d like to stay up to date with the Trust’s performance or any news, please sign up below.
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By clicking on the 'Visit ATS website' link above, you will be taken to a third party website.

*The brand names ‘Alliance Trust Savings’, ‘ATS’, ‘AT Savings’ and the ‘Alliance Trust Savings’ logo which may appear on ATS’ website are owned by and used with the permission of Alliance Trust PLC, being the previous owner of ATS.

Price and Performance

Find out more about Alliance Trust’s performance, with the help of market commentary from our Investment Manager. 

Latest available values
share price
Share price information throughout the site is provided by Investis. Updated every 15 minutes
nav per share
Net Asset Value (NAV) per share including income with debt at fair value. Source: BNYM Fund Services (Ireland) Limited
861.7p
discount
Discount including income with debt at fair value. Source: BNYM Fund Services (Ireland) Limited
5.2%
net yield
Annual dividend per share divided by share price. Source: BNYM Fund Services (Ireland) Limited
1.7%
gross assets
Total income net asset value excluding prior charges. Source: BNYM Fund Services (Ireland) Limited
£3000.5
Price and Net Asset Value per share
Premium / Discount
Investment Manager's report June's Commentary

For the month of June, the Trust’s total shareholder return, NAV total return and equity portfolio returned 6.1%, 6.3% and 6.2% respectively, outperforming the benchmark MSCI All Country World Index (ACWI) which returned 5.6% over the same period.

Most developed equity markets rallied in June, a reversal of weaker performance observed in May. Strong market returns reflected investors’ expectations of further monetary stimulus, following indications from both the US Federal Reserve and European Central Bank that expansionary policy could be on the horizon. Additionally, a truce struck between the US and China on the side-lines of the G20 summit that there would be no immediate further escalation of the ongoing trade dispute provided further comfort to investors and contributed to market performance over the period.

With regard to changes in the Trust’s portfolio, a new position was established in Capita, the UK’s largest Business Process Outsourcing company with an estimated market share of nearly 30%, split between public and private sectors. Whilst Capita has experienced distress in recent times, notably issuing a profits warning shortly after the collapse of rival Carillion in January 2018, in the manager’s view the company is now starting to see benefits from wide ranging changes introduced by CEO Jonathan Lewis following his appointment in December 2017, and represents an attractive opportunity at a suppressed valuation. Planned cost reductions are progressing ahead of schedule and management hold a bullish outlook for the company’s future free cash flows and operating margins. Other trading activity during June included the liquidation of the Trust’s position in Exxon Mobil, which in the view of the manager is now trading at a lower discount to intrinsic value, with proceeds invested in more attractive opportunities elsewhere.

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Our awards
AIC Dividend Hero

Alliance Trust has been awarded the AIC’s Dividend Hero award and is proud to have increased its dividend every year for over 50 years. This award is made by the Association of Investment Companies to the small number of investment companies who have increased their dividends each year for 20 years or more. For more information and a full list of qualifying companies, you can visit the AIC website.

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