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How to buy The City of London Investment Trust shares (TCL)

Your simple and straightforward guide to buying TCL shares on the NZX.

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Tim Falk
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The City of London Investment Trust plc is an investment trust based in the UK. Its aim is to provide long-term returns for investors, so keep reading for step-by-step instructions on how to buy TCL shares on New Zealand’s Exchange (NZX).

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How to buy shares in The City of London Investment Trust on the New Zealand Exchange

  1. Compare share trading platforms. If you’re a beginner, look for a platform with low commissions, expert ratings and investment tools to track your portfolio. Narrow down top brands with our comparison table. Most importantly, you need to find a share trading platform that allows you to trade on the NZX.
  2. Open and fund your share trading account. Complete an application with your personal and financial details, like your ID and bank information. Fund your account with a bank transfer, credit card or debit card.
  3. Search for The City of London Investment Trust. Find the stock by name or ticker symbol: TCL. Research its history to confirm it’s a solid investment against your financial goals.
  4. Purchase now or later. Buy today with a market order or use a limit order to delay your purchase until The City of London Investment Trust reaches your desired price. To spread out your purchase, look into dollar-cost averaging, which smooths out buying at consistent intervals and amounts.
  5. Decide on how many to buy. Weigh your budget against a diversified portfolio that can minimise risk through the market’s ups and downs. You may be able to buy a fractional share of The City of London Investment Trust, depending on your share trading account.
  6. Check in on your investment. Congratulations, you own a part of The City of London Investment Trust. Optimise your portfolio by tracking how your stock — and even the business — performs with an eye on the long term. You may be eligible for dividends and shareholder voting rights on directors and management that can affect your stock.

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The City of London Investment Trust overview and background

The City of London Investment Trust plc is a British registered investment company. Launched in 1861, it invests primarily in equities listed on the London Stock Exchange.

The company’s aim is to provide long-term income and capital growth to investors. Equities and debt securities are its main investments, with approximately 60% of the company’s portfolio by value invested in companies that feature in the FTSE 100 index.

Performance and company results

In its half-yearly report, released in February 2021, The City of London Investment Trust announced the following results:

  • Revenue earnings per share down by 15.6%
  • Two interim dividends of 4.75p each

Key details

NameThe City of London Investment Trust PlcIndustryAsset Management
Ticker symbolTCLISINGB0001990497
TypeOrdinary sharesDate listed on NZX10 Sep 1996
End of financial yearJuneChairmanLaurie Magnus
Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, CFDs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading CFDs and forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.

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