Temple is the Snowball’s pair trade, where a Trust with a lower yield is traded with a Trust with a higher yield to maintain a yield of around 7%.

Buying a Trust to make a capital gain near or at the end a bull market is and always will be a gamble.

Maybe if there is a Santa rally, last years was a damp squib, the Trust could be sold at a profit. If not as the dividends are received, part will be invested into TMPl, so a falling market would be a positive.

The first dividend of £30 has been earned, many a mickle makes a muckle.

Historically anyone who bought has outperformed the market and the share may do again, having achieved the holy grail of investing in that you could take out your capital and invest into a higher yielder and retain the remaining shares and try to do it all over again.

Current yield 3.1%

Dividends included and re-invested into a higher yielder.

At the low the dividend yield was 7.5% and is currently 8% on buying price.