City of London’s factsheet illustrates the last 20 years of dividend increases
Job Curtis, who has managed City of London since 1991, says: ‘At the core of City of London’s portfolio are companies that can consistently grow their profits and dividends.
‘I also like a relatively diversified portfolio across companies and sectors to benefit from different stages of the economic cycle and to reduce risk. Even the very largest companies can have sudden severe problems, such as when BP had to stop paying a dividend after the Macondo oil disaster in 2010.
‘In the 27 years that I have been City of London’s fund manager, we have used the revenue reserves seven times. The investment trust structure undoubtedly has significant advantages in providing investors with consistent growth in income.’