COMPARISONS OF TWO HIGH FIXED INTEREST INVESTMENT TRUSTS

Being an old codger I require income and with interest on deposits next to zero I bought New City High Yield Trust.
It pays a dividend 4 times yearly.
The historic dividend is 4.4p the yield 10.53892% at close on 27.1.09 at41.75p xd this morning on quarley dividend.
Therefore on £10000 income £1053 £10000 in deposit account at 3.5% interest( less 20% TAX)=2.8% income then would be £280.
Therefore you would get 3.7607 times the interest on a deposit account of 3.5%.
I have held City Merchants Investment Trust and have always paid a good dividend but New City has outperformed City merchants by 22.5% since 14.5.08