Meet The Manager - Alex Crooke

Alex first started his investment career in 1990, after leaving Manchester University with a degree in Astrophysics. His first role was as an investment analyst covering US companies before moving to join Henderson in 1994 and cover UK stocks.  Alex's value-based investment style developed by managing a variety of income orientated funds and he took on the management of Henderson High Income in 1997. Since 2003 Alex has also successfully managed The Bankers Investment Trust PLC.

Fund Manager's Commentary - December 2011 

The UK stock market finished the year on a positive note as the Euro conference of leaders relieved some of the pressure on markets. The defensive sectors remained in demand by investors, which helped increase the Trust’s portfolio value, resulting in the NAV total return for the year being positive. Gilts were the asset class of choice in 2011, boosted by purchases from the Bank of England. At some point this liquidity should filter down to the investment grade bonds we hold and ultimately equities.

The year ahead starts with most commentators expecting a very gloomy outlook for markets. However, we feel that share prices already reflect this downbeat view. The outcome may surprise positively with the Olympics and Queen’s Jubilee to boost confidence and consumption, combined with an absence of increases in income tax or VAT. Dividend growth should continue next year as many of the largest contributors are solid businesses experiencing profit growth. Our strategy remains to own good businesses on cheap valuations, with the capacity to grow dividends over time.