CT GLOBAL MANAGED PORTFOLIO TRUST PLC - CMPG/I Annual Results

CT GLOBAL MANAGED PORTFOLIO TRUST PLC delivered a strong year of performance and significant portfolio repositioning, with its Growth Portfolio returning 25.1% and Income Portfolio 23.3% over the financial year. The actively managed fund-of-funds strategy has shifted towards a higher-conviction, more globally diversified approach, with increased exposure to Asia and emerging markets and reduced UK allocations. Around 50% of both portfolios changed during the year, while the Growth Portfolio reduced holdings from 39 to 30 and increased its top 10 weighting from 37% to 59%; the Income Portfolio reduced holdings from 38 to 31, with its top 10 weighting rising to 48%. Technology and emerging markets were notable contributors, supported by strong corporate earnings and AI-related investment opportunities, while private equity and UK small caps proved more challenging. Management remains constructive on global growth and corporate profitability, with Asia and emerging markets continuing to represent a favoured investment area. The Income Portfolio currently offers a yield of around 6%, with the Board targeting dividend growth of at least inflation over rolling three-year periods and planning to introduce monthly dividends from May 2027. Following substantial strategic changes, management believes the portfolios are well positioned to capture global investment opportunities while maintaining diversification and focusing capital on its highest-conviction ideas.