The Witan Investment Trust had a total net asset value return of 6.4 per cent through 2015, increasing its dividend to 17p.
The trust said it had increased its dividend by 10.4 per cent from 2014 despite a changeable market.
The company said its debt, £75m of which was issued on 20 to 30 year terms in 2015, helped deliver 0.7 per cent of performance.
The firm also issued £83m of shares over last year as its share price moved from a premium to a 0.2 per cent discount by the end of December. Share price returns hit 5.7 per cent.
The annual return from the trust was 3.5 per cent ahead of its benchmark based on the FTSE All Share, which allocates 40 per cent to UK equities and 20 per cent each to North America, Europe ex-UK and Asia Pacific.
Eight of its 11 external managers outperformed their own respective benchmarks. The three UK equity managers delivered “significant outperformance” to the benchmark’s 1 per cent return.
Harry Henderson, Chairman of Witan Investment Trust said: “2015 was another year when market sentiment was changeable, with no consistent market direction. Our managers outperformed their benchmarks significantly overall, with a modest additional contribution from the company’s use of gearing.”
Andrew Bell, Chief Executive of Witan Investment Trust, added: “Witan’s strategy was to remain fully invested during the periods of volatility, as the world economy appeared to be improving, though watchful, increasing investment during periods when markets overreacted to events.”
