Sharesify’s countdown of the most-viewed trusts of 2025 on the website of The Association of Investment Companies (AIC) continues.
A trio of AIC ‘Dividend Heroes’, trusts which have increased payouts for at least 20 consecutive years, attracted the gaze of investors and made it into 7th, 6th and 5th place.
SEEKING TO REGAIN MOMENTUM
Alliance Witan (ALW)
Share price: £12.54
Discount: 4.6%
Yield: 2.2%
Global trust Alliance Witan (ALW) retained its top 10 most-viewed position, albeit with a retreat from 3rd to 7th place. The multi-manager fund is seeking to regain momentum following its transformational 2024 merger with rival Witan.
2025 proved a disappointing year for relative performance and the trust has delivered a negative share price total return over one year, according to AIC data.
For the uninitiated, Alliance Witan aims to be a core holding for investors by delivering a real return over the long term through a combination of capital growth and a rising dividend. The trust is on the cusp of delivering its 60th consecutive annual dividend increase.
Investment manager WTW has appointed a number of stock pickers with different styles who all ignore the benchmark and only buy a small number of stocks in which they have strong conviction. As a result, Alliance Witan’s portfolio is highly diversified and doesn’t depend on the success of any one investment style.
Learn more about the trust here: https://www.alliancewitan.com/
GENERATIONAL MID CAP OPPORTUNITY
The Merchants Trust (MRCH)
Share price: 651p
Discount: 4.7%
Yield: 4.5%
UK Equity Income stalwart Merchants Trust (MRCH) ascended from 8th spot to 6th in the most-viewed rankings last year. Interest rate cuts and geopolitical uncertainty stoked investor interest in funds with the ability to pay dividend income even during tough times.
Steered by long-serving manager Simon Gergel, Merchants invests mainly in higher-yielding large UK caps to deliver a high and rising income and capital growth for shareholders. However, Gergel currently sees a once-in-a-generation opportunity in UK mid-cap stocks.
This dividend hero trust has paid increasingly higher distributions to shareholders year-on-year for the last 43 years. Merchants is also one of the sector’s best 10-year performers with a share price total return of 176%, ahead of the 135% sector average.
Learn more about the trust here: https://www.merchantstrust.co.uk/
James Crux has a personal investment in The Merchants Trust
VALUE TILT
Murray International (MYI)
Share price: 350p
Premium: 1.2%
Yield: 3.4%
A non-mover in 5th place was Murray International (MYI), the diversified global equity income trust whose top 20 holdings include tobacco titan Philip Morris, beverages behemoth Coca-Cola and tech giant Cisco Systems.
Trading on a modest premium to NAV, Murray International is managed by Aberdeen’s Martin Connaghan and Samantha Fitzpatrick with a tilt towards value stocks.
The trust aims to achieve an above average dividend yield, with long term growth in dividends and capital ahead of inflation. Cumulative NAV returns are ahead of the benchmark over one and five years for Murray International.
The fund achieved Dividend Hero status after delivering an increased dividend for the 20th consecutive year in 2024.
Learn more about the trust here: https://www.aberdeeninvestments.com/en-gb/myi
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