THE ABERDEEN Asset Management run North American Income Trust has reported strong growth in the year to end of January, making a net asset value total return of 45.8 per cent and outperforming its two reference indices. The S&P 500 and Russell 1000 Value grew by 35.3 per cent and 40.5 per cent respectively.

Chairman James Ferguson said the trust’s growth was in part down to its move to an active management approach in 2013. He noted that “some volatility is expected” this year as President Trump’s policies “take shape”.

The board is proposing a total dividend for the year of 36 pence, up from 33 pence.