Overview
Focusing on quality companies in an uncertain world
What does the Trust do?
STS Global Income & Growth Trust aims to be the high quality, low volatility global income and growth investment trust.
Why this Trust?
The Trust aims to meet the needs of investors looking for a growing level of income and steady capital growth over the long term, whilst also wanting to preserve the value of their money.
Trust Ratings
© 2025 Morningstar, Inc. All Rights Reserved.
Literature
Document name | Date | Open/download | All documents |
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Factsheets | All documents | ||
Newsletters | All documents | ||
Annual Reports | All documents | ||
Interim Reports | All documents | ||
Key Information Document – UK |
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Key Information Document – EU |
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SDR Consumer-facing Disclosure |
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Proposed amendments to the articles of association |
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Circular |
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Past Performance scenarios |
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10 year Performance Chart |
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Investor Disclosure Document |
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Factsheets
Date: December 2024 View All documents Open Download -
Newsletters
Date: Income Matters No.6 View All documents Open Download -
Annual Reports
Date: 2024 View All documents Open Download -
Interim Reports
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Performance
Discrete Calendar Annual Returns (%) | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | YTD | Ann Return * |
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STS Global Income & Growth Trust PLC | +19.4 | +0.8 | -5.4 | +35.8 | +6.8 | -7.9 | +39.3 | +0.9 | +16.3 | +1.0 | -0.7 | +9.4 | +8.3 |
Lipper Global Equity Global Income | +16.3 | +9.5 | -0.4 | +25.9 | +8.2 | -6.2 | +16.8 | +3.1 | +15.4 | +0.4 | +7.1 | +9.6 | +7.4 |
*Since Launch 28 June 2005
Past performance is not a guide to future performance.
The value of the Trust, and any income from it, may go down as well as up and investors may get back less than they invested. Returns may increase or decrease as a result of currency fluctuations. This data is provided for information only and should not be reproduced, published or disseminated in any manner. Although we consider the data to be reliable, no warranty is given as to its accuracy or completeness. Any comparisons against indices are for illustrative purposes only.
Source: Lipper, 31 December 2024.
To see the past performance of Troy’s Global Income Strategy please click here and navigate to the performance section of the page.
Risk analysis
Risk Analysis | STS Global Income & Growth Trust PLC | Lipper Global Equity Global Income |
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Total Return | 126.5 | 106.7 |
Max Drawdown | -34.3 | -25.3 |
Best Month | 12.2 | 9.7 |
Worst Month | -10.1 | -12.7 |
Positive Months | 60.8 | 64.2 |
Annualised Volatility | 13.1 | 10.3 |
Past performance is not a guide to future performance.
Maximum Drawdown measures the worst investment period. Annualised Volatility is measured by standard deviation of annual returns.
The value of the Trust, and any income from it, may go down as well as up and investors may get back less than they invested. Returns may increase or decrease as a result of currency fluctuations. This data is provided for information only and should not be reproduced, published or disseminated in any manner. Although we consider the data to be reliable, no warranty is given as to its accuracy or completeness. Any comparisons against indices are for illustrative purposes only.
Source: Lipper, 31 December 2014 to 31 December 2024.
Dividends
Past performance is not a guide to future performance. Income generated (if any) may fall as well as rise.
Discount control
STS Global Income & Growth Trust implemented a Discount Control Mechanism on the 17th November 2020.
This discount control policy is to ensure that the Ordinary shares trade at, or close to, net asset value at all times. The discount control mechanism also serves to materially enhance the liquidity of the Company’s shares. This is ensured through a combination of share buy-backs at a modest discount NAV when supply exceeds demand for the Company’s shares and the issue of new Ordinary shares at a premium to net asset value where demand exceeds supply. The Directors will continue to seek the renewal of the Company’s authority to buy back Ordinary shares annually and at other times should this prove necessary. Purchases of Ordinary shares will only be made through the market for cash at prices below the prevailing net asset value of the Ordinary share. The Directors will be authorised to cancel any Ordinary shares purchased under such authority or to hold them in Treasury. The Directors will continue to seek the renewal of the Company’s authority to issue shares but will only do so when they believe it is advantageous to the Company’s shareholders and for the purposes of operating the Company’s discount policy. In no circumstances would such issue of new shares result in a dilution of the net asset value per share.
Trust announcements
Sustainable Investment Labels Statement
Sustainable investment labels help investors find products that have a specific sustainability goal. This trust does not have a UK sustainable investment label as it does not have a sustainable objective as part of its investment objective. Despite not having a sustainable investment objective, when investing in companies, Troy integrates the analysis of sustainability characteristics into its investment decision-making.
Important Information
Performance data provided relating to the NAV is calculated net of fees with income reinvested unless stated otherwise. Overseas investments may be affected by movements in currency exchange rates. The value of an investment and any income from it may fall as well as rise and investors may get back less than they invested. The historic yield reflects distributions declared over the past twelve months as a percentage of the Trust’s price, as at the date shown. It does not include any preliminary charge and investors may be subject to tax on their distributions. Tax legislation and the levels of relief from taxation can change at any time. Any change in the tax status of a Trust or in tax legislation could affect the value of the investments held by the Trust or its ability to provide returns to its investors. The yield is not guaranteed and will fluctuate. There is no guarantee that the objective of the investments will be met. Investment trusts may borrow money in order to make further investments. This is known as “gearing”. The effect of gearing can enhance returns to shareholders in rising markets but will have the opposite effect on returns in falling markets. Shares in an Investment Trust are listed on the London Stock Exchange and their price is affected by supply and demand. This means that the share price may be different from the NAV.
For the full trust disclaimer please refer to the Trust fact sheet.
How to invest
Find more information on how to invest in this trust and where it is available.
How to invest
Commentary
December Commentary
The Trust Net Asset declined by -2.2% during the month and the share price by –1.4%, compared to a return of -1.8% for the Lipper Global – Equity Global Income Index.
Over the year the Trust returned +8.8% (NAV) and a price total return of +9.7% compared the Lipper Global – Equity Global Income Index which returned +10.0%.
As is often the case it was a year of two halves. Relative returns were constrained for the first 6 months of the year but recovered somewhat as the year progressed. The top three contributors over the 12 months were British American Tobacco which rose by +37.2%, Philip Morris up +34.7% (in Sterling) and Unilever which climbed by +23.7%. The shares of each company had been deeply out of favour at the beginning of the year reminding one that sometimes the most uncomfortable holdings generate the best returns.
Conversely two of the key detractors were Pernod Ricard and Nestle. Both companies have been excellent long-term compounders of shareholder capital but have been disappointing since May 2023. Valuations achieved at that time proved to be unsustainable. As the COVID boom has waned and concerns have appeared around end demand from changing consumer tastes and the adoption of weight-loss drugs, the shares have derated. In each case we think that the current valuations give protection against these worries which although valid, are unlikely to negate the long-term competitive advantages and opportunities these companies enjoy in our view.
2025 promises to be an interesting year as the positive and negative effects of the Trump agenda play out in markets. While equity markets so far have been upbeat, rising bond yields appear to represent an increasing risk to equity valuations.
The Q4 dividend, paid on 31st December 2024, was declared at 1.586p. The total distribution for 2024 was 6.662p which represents an increase of 4.0% relative to 2023, reflecting the robustness of the portfolio’s income generation notwithstanding uncertainty over the near term outlook.