CT Global Managed Portfolio Trust : Factsheet (income)

CT Global Managed Portfolio Trust PLC Income

Fund manager

Peter Hewitt

Manager Commentary

Equity markets globally had a mixed month. Economic data was generally better than expected, which tended to mean most economies were still growing, albeit slowly. Inflation data, particularly in Europe and the UK, was worse than anticipated, with investors taking this to mean there would be further interest-rate hikes and reductions were not likely until next year. In this regard, the US was better, with inflation, although still too high, seemingly on a modest downtrend. The feature everywhere, especially visible in the US and UK, was buoyant labour markets with unemployment at low levels. This is good for consumer incomes but not so good for the outlook for bringing inflation back under control. Asian markets, led by China, moved lower. US equities moved sideways and were helped by the mega technology companies, which account for a substantial part of the S&P Composite Index, posting better-than-expected quarterly results. If they were excluded, US equities would have been down. The bright spot was Europe and the UK, with the latter being one of the strongest performers over the month. This contrasted with the previous month when the UK was the laggard among major markets.

Against this background, the FTSE All-Share Index rose by 3.4% while the FTSE Closed End Investment Companies Index only gained 0.6% (both in total returns). The sector index has persistently underperformed mainstream equities over the year to date, in part due to widening discounts across the sector. This reflects investor uncertainty over prospects for the balance of this year. The net asset value of the Income Portfolio was ahead by 1.7% (also in total returns). The leading contributors were two private equity trusts, NB Private Equity Partners and Apax Global Alpha, which gained 11% and 9%, respectively.

Key risks

Stock market movements may cause the value of investments and the income from them to fall as well as rise and investors may not get back the amount originally invested. Changes in rates of exchange may have an adverse effect on the value, price or income of investments. If markets fall, gearing can magnify the negative impact on performance.

[e-mail] | 0800 136420 | ctglobalmanagedportfolio.co.uk

May 2023

Key facts as at 28.04.23

Trust aims: The objective for the Income Portfolio is to provide income shareholders with an attractive level of income, with the potential for income and capital growth from a diversified portfolio of investment companies. The Income Portfolio invests in a diversified portfolio of at least

25 investment companies that have underlying investment exposures across a range of geographic regions and sectors and that focus on offering an income yield above that of the FTSE All - Share Index.

Benchmark:	FTSE All-Share Index
Fund type:	Investment Trust
Launch date:	April 2008

Total assets - portfolio: £66.6 million

Total assets - company: £155.0 million

Share price:		119.50p
NAV:		118.84p
Discount/premium(-/+):	0.56%
Dividend payment dates:	Jan, Apr,
		Jul, Oct
Net dividend yield† :		5.6%
Net gearing/Net cash*:	-7.5%/0.0%
Management fee rate**:	0.65%
Ongoing charges**:		1.04%
Year end:		31 May
Sector:	Flexible Investment
Currency:		Sterling

Website: ctglobalmanagedportfolio.co.uk

**Ongoing charges is calculated excluding any performance fee and excluding charges of the Company's underlying investments. Please refer to the latest annual report. (Effective 29 September 2022, the cessation of the performance fee was agreed with immediate effect).

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CT Global Managed Portfolio Trust PLC Income

May 2023

Fund performance as at 28.04.23

	50
	40
	30
%	20
	10
	0
	-10
		1 Month	YTD	1 Year	3 Years	5 Years
	NAV	Share price	Benchmark

Cumulative performance as at 28.04.23 (%)

	1 Month	Year to date	1 Year	3 Years	5 Years
NAV	1.72	0.25	-5.61	24.11	14.88
Share price	1.27	-0.67	-7.09	20.31	13.58
Benchmark	3.35	6.53	6.04	45.21	24.15

Discrete annual performance as at 28.04.23 (%)

	2023/22	2022/21	2021/20	2020/19	2019/18
NAV	-5.61	-1.42	33.38	-11.43	4.51
Share price	-7.09	-1.07	30.90	-9.83	4.70
Benchmark	6.04	8.72	25.95	-16.68	2.62

Past performance is not a guide to future performance. Source: Lipper and Columbia Threadneedle Investments. Basis: Percentage growth, total return, bid to bid price with net income reinvested in sterling. The discrete performance table refers to 12 month periods, ending at the date shown.

Trust codes

Stock exchange code	Sedol
CMPI	B2PP3J3

Top 10 holdings (%)

	% of net assets	Sector
Law Debenture Corporation	5.2	UK Equity Income
NB Private Equity Partners	4.6	Private Equity
Murray International Trust	4.5	Global Equity Income
JPMorgan Global Growth & Income	3.8	Global Equity Income
Scottish American Investment Company	3.8	Global Equity Income
Henderson International Income Trust	3.7	Global Equity Income
The Merchants Trust	3.6	UK Equity Income
City of London Investment Trust	3.5	UK Equity Income
3i Infrastructure	3.5	Infrastructure
Mercantile Investment Trust	3.4	UK All Companies

All figures are subject to rounding.

[e-mail] | 0800 136420 | ctglobalmanagedportfolio.co.uk

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CT Global Managed Portfolio Trust PLC Income

May 2023

Geographical breakdown (%)

UK	41.0
North America	18.0
Europe	11.0
Far East & Pacific	10.0
Fixed Interest	6.0
Cash	5.0
Japan	3.0
Other	3.0
China	2.0
South America	1.0

The geographical breakdown of the Portfolio's investments is on a 'look-through' basis. Source: Columbia Threadneedle Investments and AIC.

Net dividend distributions pence per share

	2018	2019	2020	2021	2022	2023
January	1.30	1.35	1.40	1.40	1.55	1.67
April	1.30	1.35	1.40	1.40	1.55	1.67
July	1.80	1.90	1.90	2.00	2.00
July - special dividend	0.80
October	1.35	1.40	1.40	1.55	1.67
Total	6.55	6.00	6.10	6.35	6.77	3.34

Glossary

Bid price	Investment trust shares are sold via the stock exchange at the bid
	price. This price is determined by supply and demand.
Dividend	Income paid to shareholders by the company they invest in.

Net asset value A key measure of the value of a company or trust - the total value of assets less liabilities, divided by the number of shares.

To find out more visit columbiathreadneedle.com

All data as at 28.04.2023 unless otherwise stated.

All information is sourced from Columbia Threadneedle Investments, unless otherwise stated. Except where noted, all percentages are based on gross assets.

*Net gearing is total assets less cash and cash equivalents divided by shareholders' funds and expressed as a percentage. Net cash is net exposure to cash and

cash equivalents expressed as a percentage of shareholders funds after any offset against gearing. **Please refer to the latest annual report as to how the management fee and performance fee is structured along with an explanation of the calculation. Please note, effective 29 September 2022, the cessation of the performace fee was agreed with immediate effect and ongoing charges of the Company's underlying investments have not been included. The share price may either be below (at a discount) or above (at a premium) the NAV. Discounts and premiums vary continuously. Performance information excludes any product charges which can be found in the Key Investor Document ("KID") for the relevant product. †In the absence of unforeseen circumstances, the Company intends that the aggregate dividends for the financial year to 31 May 2023 will be at least 6.68 pence per Income share and the yield is therefore based on this rate.

© 2023 Columbia Threadneedle Investments. Columbia Threadneedle Investments is the global brand name of the Columbia and Threadneedle group of companies. This financial promotion is issued for marketing and information purposes only by Columbia Threadneedle Investments in the UK.

CT Global Managed Portfolio Trust PLC is an investment trust and its Income Shares are traded on the main market of the London Stock Exchange.

English language copies of the key information document (KID) can be obtained from Columbia Threadneedle Investments, Exchange House, Primrose Street, London EC2A 2NY, telephone: Client Services on 0044 (0)20 7011 4444, email: [e-mail] or electronically at www.columbiathreadneedle.com. Please read before taking any investment decision.

The information provided in the marketing material does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in the fund. The manager has the right to terminate the arrangements made for marketing.

FTSE International Limited ("FTSE") © FTSE 2023. "FTSE®" is a trade mark of the London Stock Exchange Group companies and is used by FTSE International Limited under licence. All rights in the FTSE indices and/or FTSE ratings vest in FTSE and/or its licensors. Neither FTSE nor its licensors accept any liability for any errors or omissions in the FTSE indices and/or FTSE ratings or underlying data. No further distribution of FTSE Data is permitted without FTSE's express written consent.

Financial promotions are issued for marketing and information purposes; in the United Kingdom by Columbia Threadneedle Management Limited, which is authorised and regulated by the Financial Conduct Authority; in the EEA by Columbia Threadneedle Netherlands B.V., which is regulated by the Dutch Authority for the Financial Markets (AFM); and in Switzerland by Columbia Threadneedle Management (Swiss) GmbH, acting as representative office of Columbia Threadneedle Management Limited. In the Middle East: This document is distributed by Columbia Threadneedle Investments (ME) Limited, which is regulated by the Dubai Financial Services Authority (DFSA). For Distributors: This document is intended to provide distributors with information about Group products and services and is not for further distribution. For Institutional Clients: The information in this document is not intended as financial advice and is only intended for persons with appropriate investment knowledge and who meet the regulatory criteria to be classified as a Professional Client or Market Counterparties and no other Person should act upon it. (05/23)

[e-mail] | 0800 136420 | ctglobalmanagedportfolio.co.uk

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