Alliance Trust to remove one stock as it introduces exclusions

Trust to review dividend

The £3.7bn Alliance Trust will remove one stock, making up 0.3% of its portfolio, as a result of a new exclusion rule that means they cannot invest in with significant exposure to thermal coal and tar sands, as announced in its interim results.

"For us, engagement is more important than exclusion," said Craig Baker, head of the trust's investment committee and global CIO for Willis Towers Watson (WTW). "We do not want to have a huge raft of exclusions within the portfolio… but where there are areas that is increasingly difficult to have an impact through engagement we will look whether we want to have any exclusions." The trust already had an exclusion for controversial weapons prior to the announcement.   Alliance Trust also continued its 54-year tradition of raising its dividends. For 2021 it has raised its quarterly divid...