Shires Income : SHRS – annual results

Over the year to the end of March 2014, Shires Income, managed by Ed Beal, delivered a total return on net assets of 11.5% – ahead of the 8.8% return on its benchmark, the FTSE All-Share Index. Shires Income’s rating improved over the period and so the return to shareholders was 14.0%. The dividend was maintained at 12.0p per share but is now covered 1.05x by earnings.

The report points to holdings in Aberdeen Smaller Companies High Income Trust and Cobham as contributing to the fund’s outperformance of the benchmark.

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