6th Mar 2015 07:41
LONDON (Alliance News) - Alliance Trust PLC Friday proposed a special dividend, as it posted a total return on net asset value below the MSCI All Country World Index for 2014 and said it was reasonably pleased with its performance in the latter half of the year after a weaker start.
It proposed a fourth interim dividend of 2.4585 pence, and including the special dividend of 2.456 pence, takes the total dividend for 2014 to 12.38 pence, up 14% from 10.83 pence a year before.
The trust posted a total return on net asset value of 8.1%, below the 11.2% total return delivered by the MSCI All Country World Index. The company said the MSCI All Country World Index's performance masked bouts of high volatility, particularly in October.
The trust said it had undertaken a comprehensive review of its portfolio in October, and reduced its number of holdings to 74 from 84.
In terms of 2015, the trust highlighted the upcoming general election in the UK, and said that "whatever the outcome it will take time for any changes to make a material difference to the profit and loss accounts of the companies in which we invest."
"We also see numerous opportunities for the investment portfolio in the years ahead. The investment team will position the portfolio to take account of any market volatility resulting from economic and geo-political developments relating to the euro, the conflicts in Ukraine and the Middle East, and the UK general election," said Chief Executive Katherine Garrett-Cox in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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