Capital Gearing Trust

Investment Objective

• The Company’s objective is to preserve and grow shareholders’ real wealth over time.
• The Company seeks cost-effective, long-term absolute returns via a global portfolio of equities, bonds and commodities.
• It follows a simple, low-cost approach, no gearing, no short selling.
• The Trust is actively managed, without reference to a benchmark.

Fees and Structure

• FTSE 250 Listed Investment Trust
• Management Fee: 0.41% | Ongoing Charge Figure: 0.55%
• No performance fee: A fixed fee model—no outperformance or hurdle-based charges
• Dividend Policy: CGT pays a single annual dividend in July. While not the primary focus, it forms part of the Trust’s total return strategy
• Low or no structural gearing: Modest gearing may be used tactically, but it is not a core feature of the strategy.
• Discount Control Mechanism: Read more and watch the video.

Discount control mechanism

Capital Gearing Trust introduced its Discount Control Mechanism in 2015 to help keep the share price closely aligned with the net asset value (NAV). By issuing or buying back shares in response to market demand, the Trust aims to offer investors fairer pricing and improved liquidity.

In a sector where many investment trusts trade at persistent discounts, CGT has been a recognised leader in discount management – consistently delivering one of the narrowest trading ranges in the industry. This approach reflects our long-standing commitment to shareholder alignment and capital preservation.

Investor Profile

The fund has a broad range of investors who typically exhibit the following characteristics:

• A long-term investment horizon
• An aversion to significant short-term losses
• A desire to generate returns that outpace inflation over the long term
• A focus on GBP-denominated returns