Fourth trust reaches 50-year dividend record

Four investment trusts now have a 50-year record of dividend rises after £1.9bn trust Caledonia announced an increase in its payout. In its results for the year to March 31, Caledonia announced a 4.2pc increase to 54.8p a share. It also announced a 100p-a-share special dividend after it sold a number of investments.

Separately, a trust due to be launched later this year has named the fund managers who will run it. The People’s Trust, founded by Daniel Godfrey, former head of an investment trade body, has selected five asset managers to run the portfolio.

Artemis fund managers Mark Niznik and William Tamworth will specialise in smaller UK companies, while First State Investments has been picked for its Asia-Pacific stock selection.

JO Hambro Capital Management’s Ben Leyland and Robert Lancastle have been picked for their global stock market experience. Comgest has been selected to invest in European companies, while Lansdowne Partners’ Per Lekander will invest some of the trust’s assets in clean energy.