The Merchants Trust


Sign up Contact us
Menu

Shareholder Information

In this section, you can find useful information and contact details to help with managing an investment in Merchants’ shares. If you don’t find what you need, this section also tells you how to contact us.

Please note that if you hold your shares through an investment platform or other ‘nominee’ service then for administrative queries on your shareholding you will need to contact that provider directly. You may still contact Investor Services for any issues directly related to the Trust itself.

Print page

Key Information

Launch Date

16 February 1889

AIC Sector

UK Equity Income

Benchmark

FTSE All-Share

Annual Management Charge

0.35%

Performance Fee

No

Ongoing Charges 1

0.56%

Year End

31 January

Annual Financial Report

Final published in April, Half-yearly published in September

AGM

May

Dividend Pay Dates

February/March, May, August, November

Dividend XD Dates

January, April, July, October

1. Source: AIC, as at the Trust’s Financial Year End (31.01.2023). Ongoing Charges (previously Total Expense Ratios) are published annually to show operational expenses, which include the annual management fee, incurred in the running of the company but excluding financing costs.

Registrations

Company No.

00028276

FATCA GIIN No.

ZHLNUL.99999.SL.826

Codes

RIC

MRCH.L

SEDOL

0580007

ISIN

GB0005800072
The Merchants Trust 2024 AGM

The Merchants Trust 2024 AGM

June 2024

This is a summary recording of the Company's Annual General Meeting (AGM) which was held on 16 May 2024, including an update from Portfolio Manager, Simon Gergel.

Access more content here

External Video Content

This video is loaded through YouTube. Google is collecting information about your interaction with this video by using cookies and may use this for targeting their offers. Please accept cookies in order to show the video.

Frequently Asked Questions

Below you'll find answers to the questions we get asked the most by investors.

You can buy shares in the Trusts through:

  • A third party provider - see ‘How to Invest’ on this website, where you will find links to a range of these platforms, many of which allow you to hold the shares within an ISA, Junior ISA, SIPP and/or savings scheme.
  • A stockbroker.
  • A financial adviser.
Shares can be purchased or sold via an online platform, a stockbroker or a financial adviser (see How do I invest in AllianzGI-managed Investment Trusts?) Additionally, if you are already a certificated shareholder of one of our Trusts, you can buy additional shares or sell existing shares through Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk.
We do not operate our own Savings Scheme; shares can be purchased through an intermediary – please refer to the buy / sell FAQ in this section. Should you require financial advice you can find details of an IFA in your area at www.unbiased.co.uk.
We recommend that you seek financial advice prior to investing. If you do not currently have a financial adviser, details of authorised financial advisers in your area can be found at www.unbiased.co.uk
Yes. Many platforms offer this service. For investors holding share certificates, the Registrars offer a Dividend Reinvestment Plan (DRIP). Details of this are available by contacting Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk.
The AGM is usually held in May. Details of date, time and venue are published in the annual report which is published and distributed well in advance. The latest annual report is always available via our online Literature Library
See above
Shareholders are welcome to attend, COVID-19 situation permitting. If you hold share though a Savings Scheme or nominee (e.g. via a platform), please bring along a recent statement as evidence of your ownership.
The yield is published on the home page, if applicable.
There is no annual management charge for shareholders electing to hold a share certificate
The OCF represents the overall cost of running the company and is published in the annual report and available on this website (updated annually).
Share prices are available on this website. They are also available in the Financial Times (www.ft.com) and from the London Stock Exchange (www.londonstockexchange.com)
These are available on this website.
Yes, you can. To receive monthly fact sheets  and occasional news, sign up on the Trust’s home page.  To receive annual and half-yearly reports, please contact Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk who will arrange for you to be added to the distribution list. 
If you hold your shares via a nominee or a Savings Scheme, you should contact the nominee or Scheme Administrator directly and they can arrange this for you. If you hold your shares as a share certificate you should contact Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk to obtain a Stock Transfer Form.
If the shares are held via a nominee or a Savings Scheme, you should contact the respective nominee or Scheme Administrator. If the shares are held as a share certificate you should contact Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk. Both will guide you through their requirements for registering the death certificate and obtaining probate where necessary.
You should contact Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk who will advise you of the procedure and cost of obtaining a replacement.
Change of addresses need to be notified to either your nominee, scheme administrator or, if you hold a share certificate, Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk.
If the shares are held via a nominee or a Savings Scheme, you should contact the respective nominee or Scheme Administrator. If your shares are held in certificated format you should contact Link Asset Services on 0371 664 0300 (locally charged call) or enquiries@linkgroup.co.uk. Both will guide you through their requirements for obtaining a replacement.

Registrar details

Link Asset Services is the Trust’s registrar. They can help you with many things, such as questions about your holding, lost certificates, registered details and other administrative queries.

Telephone
+44 (0)371 664 0300
Lines are open 9.00am to 5.00pm, Mon to Fri

Website
www.linkgroup.eu
Email:
enquiries@linkgroup.co.uk
Address
Link Asset Services
Link Group 10th Floor,
Central Square,
29 Wellington Street,
Leeds
LS1 4DL

Contact Investor Services

If you have any other queries regarding our investment trusts, you can contact our Investor Services team.


Merchants News

Subscribe to receive monthly factsheets & news

Sign up here

Contact AllianzGI Investment Trusts

For more information on our products and services.

Contact Us

Allianz Global Investors

You are now leaving the Allianz Global Investors’ website and being redirected to

Welcome to The Merchants Trust

Select Role
  • Individual and professional investors

  • Warning to Shareholders

    We are aware that some shareholders may have received unsolicited telephone calls or correspondence concerning investment matters. These are typically from overseas based organisations who target UK shareholders offering to sell them, what often turn out to be, worthless or high risk shares in US or UK investments. They can be extremely persistent and persuasive. Shareholders are therefore advised to be very wary of any unsolicited advice or offers.

    Please note that it is most unlikely that either the company or the company’s Registrar, Link Asset Services, would make unsolicited telephone calls to shareholders. Any such calls would only ever relate to official documentation already circulated to shareholders and never in respect of investment ‘advice’.

    If you are in any doubt about the veracity of an unsolicited telephone call, please call the Company Secretary +44 (0)800 389 4696 or the Registrar on +44 (0) 371 664 0300.

    You can also report and get advice about fraud or cyber crime by contacting Action Fraud – National Fraud & Cyber Crime Reporting Centre 0300 123 2040 and visiting their website at www.actionfraud.police.uk.

    Please read this important information before proceeding further. It contains legal and regulatory notices relevant to the information contained on this website. By pressing ‘Confirm’ you agree that you have read and understood the following information.

    Investing involves risk. The value of an investment and the income from it may fall as well as rise and investors may not get back the full amount invested.

    Please note that the products referred to on this website are only available to persons normally resident for tax purposes in the United Kingdom of Great Britain and Northern Ireland. Allianz Global Investors UK Limited has taken reasonable care to ensure the accuracy of information available through the site. However, the information may be amended at any time by Allianz Global Investors UK Limited without notice. As far as it is permitted under the Financial Services Act, Allianz Global Investors UK Limited does not accept liability for any loss, direct or indirect owing to reliance on any information contained herein. Opinions expressed whether in general or both on the performance of individual funds and in a wider economic context represent the views of the contributor at the time of preparation. They are subject to change and should not be interpreted as investment advice which Allianz Global Investors UK Limited is not authorised to give. If you are unsure of the suitability of any investment contained in this website, please contact a Financial Adviser. This site may provide links to third party websites over which Allianz Global Investors UK Limited has no control. These links are provided for your convenience and Allianz Global Investors UK Limited accepts no responsibility for the content of such websites. For your security we may record or randomly monitor all telephone calls.

    Regulation and Status Disclosure

    Allianz Global Investors represents products and services of Allianz Global Investors UK Limited. Allianz Global Investors UK Limited is an investment company incorporated in the United Kingdom, with its registered office at 199 Bishopsgate, London, EC2M 3TY. 

    Allianz Global Investors UK Limited, company number 11516839, is authorised and regulated by the Financial Conduct Authority.  Details about the extent of our regulation are available from us on request and on the Financial Conduct Authority's website (www.fca.org.uk). The duplication, publication or transmission of the contents, irrespective of the form, is not permitted; except for the case of explicit permission by Allianz Global Investors UK Limited.

    The Merchants Trust PLC is incorporated in England and Wales. (Company registration no. 28276). Registered Office: 199 Bishopsgate, London, EC2M 3TY. The Company is a member of the Association of Investment Companies - Category: UK Equity Income.

    Please note that the important information set out here does not exclude or restrict any duty or liability to customers of Allianz Global Investors UK Limited under the Financial Services and Markets Act 2000 or under the Financial Conduct Authority Rules.

    Investments

    You should always bear in mind that:

    Past performance does not predict future returns.

    The value of an investment and the income from it may fall as well as rise and investors might not get back the full amount invested. You should not make any assumptions about the future on the basis of this information.

    Changes in rates of exchange may cause the value of investments and the income from them to go down or up.

    In a building society your money is secure, whereas in a stock market-based investment it is exposed to a degree of risk and the value of your investment will fluctuate up and down.

    The Merchants Trust PLC is a quoted company listed on the London Stock Exchange. Its share prices are determined by factors including demand which means that the shares may trade below (at a discount) or above (at a premium to) the underlying net asset value.

    The Trust seeks to enhance returns for its shareholders through gearing, in the form of long-term, fixed rate debentures. Gearing can boost the Trust’s returns when investments perform well, though losses can be magnified when investments lose value. You should be aware that this Trust may be subject to sudden and large falls in value and you could suffer substantial capital loss.

    This investment trust charges 65% of its annual management fee to the capital account and 35% to revenue. This could lead to a higher level of income but capital growth will be constrained as a result. Your capital could also decrease if income paid out of capital exceeds the growth rate of the Trust. Derivatives are used to manage the trust efficiently.

    The views and opinions expressed herein, which are subject to change without notice, are those of the issuer companies at the time of publication. The data used is derived from various sources, and assumed to be correct and reliable at the time of publication.

    A person within Allianz Global Investors UK Limited, its affiliates and their directors may or may not have a position in or with respect to any investments mentioned on this website.

    If you are in any doubt about the information contained on this website please call us on 0800 389 4696 and speak to one of our trained helpline staff or consult a professional financial adviser.

    The material contained in this website is directed only at persons or entities in any jurisdiction or country where such access to information contained herein and use thereof is not contrary to local law or regulation. Accordingly, all persons who access this website are required to inform themselves of and to comply with any such restrictions.

    Advice

    Allianz Global Investors UK Limited only provides information on our own and other group company products and does not give advice to retail customers based on individual circumstances. Please contact a financial adviser if you need advice.

    No Reliance

    Although Allianz Global Investors UK Limited has taken all reasonable care that the information contained within the website is accurate at the time of the publication, no representation or warranty (including liability towards third parties), expressed or implied, is made as to its accuracy, reliability or completeness by Allianz Global Investors UK Limited or its contractual partners. Information, opinions and estimates and any other contents on this website are provided by Allianz Global Investors UK Limited for personal use and informational purposes only and are subject to change without notice. Nothing contained on the website constitutes investment, legal, tax or other advice nor is to be relied on in making an investment or other decision. You should obtain relevant and specific professional advice before making any investment decision.

    No Warranty

    The information and opinions contained on the website are provided without any warranty of any kind, either expressed or implied, to the fullest extent permissible pursuant to applicable law. Allianz Global Investors UK Limited further assumes no responsibility for, and makes no warranties that, functions contained on the website will be uninterrupted or error-free, that defects will be corrected, or that the website or the servers that make it available will be free of viruses or other harmful components.

    Liability Waiver

    Under no circumstances, including, but not limited to, negligence, shall Allianz Global Investors UK Limited be liable for any special or consequential damages that result from the access or use of, or the inability to access or use, the materials at the website.

    Cookies

    A 'cookie' is a piece of information that is saved to your PC by the web server. Confirmation of reading this disclaimer will place a cookie on your PC and it will ease your navigation around the web site by not popping up this disclaimer again during this browser session. This cookie is temporary and will be removed when you close your browser. The cookie is not used for any other reason on this site.

    Linked Sites

    Some pages on this website contain information maintained by third parties. Although the information is believed to be reliable, Allianz Global Investors Limited does not guarantee the timeliness, accuracy or suitability of such information in any way and anyone who acts on the information does so entirely at their own risk. Allianz Global Investors UK Limited is not responsible for the content of any links to off-site pages, nor is it responsible for any websites that may contain links to this website. Any such website will not have been reviewed by Allianz Global Investors UK Limited and Allianz Global Investors UK Limited shall not be liable for any loss or damage arising from your reliance upon information therein. Following links to any off-site pages or other websites shall be entirely at your own risk.

    Copyright

    Copyright in this website is owned by Allianz Global Investors UK Limited. The copyrights of third parties are reserved. You may download or print a hard copy of individual pages and/or sections of the website, provided that you do not remove any copyright or other proprietary notices. Any downloading or other copying from the website will not transfer title to any software or material to you. You may not reproduce (in whole or part), transmit (by electronic means or otherwise), modify, link or use for any public or commercial purpose the website without the prior permission of Allianz Global Investors UK Limited.

    Nothing at the website shall be construed as granting any license or right to use any image, trademark, service mark or logo. Allianz Global Investors UK Limited reserves all rights with respect to copyright and trademarks ownership of all material at the website, and will enforce such rights to the full extent of applicable law.

    Money Laundering

    Any transaction involving client money will be covered by statutory and other requirements relating to money laundering including the Money Laundering Regulations, the Financial Conduct Authority rules and the Joint Money Laundering Steering Group Guidance Notes, as amended from time to time (jointly "the Money Laundering Requirements").

Please check the checkbox to accept the terms and conditions.