City Natural Resources High Yield Trust (LON:CYN) - Strong dividend growth
Sep 24th 2012 - Edison Investment Research today published a report on City Natural Resources High Yield Trust (CYN.L, LSE:CYN, LON:CYN) entitled "Strong Dividend Growth". In summary, the report says:
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...
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »
