Marketing materials for investment products are often fond of pointing out in the small print that past performance is not a reliable guide to future returns (Greig Cameron writes). That’s sensible advice, but there are some areas where having a track record can give investors a bit of insight into what they might be buying into.
Alliance Trust is recognised as something of a “dividend hero” by the Association of Investment Companies for a record of increasing its dividend stretching back more than 50 years. Annual results published this month confirmed that a 54th consecutive dividend rise would be paid. The 14.38p-per-share payout is a 3 per cent increase on the previous year.
Alliance did have to take £10 million from its reserves to prop
