5th Jul 2016 10:12
LONDON (Alliance News) - Closed-ended investment company BACIT Ltd on Tuesday said its net asset value per share declined in the year to the end of March following a difficult year for markets.
The fund said its net asset value per share at the end of March was 123.00 pence, down from 125.00p a year earlier. Total net assets on its books sat at GBP472.2 million at the end of March, compared to GBP479.1 million a year earlier.
BACIT said it had been a "difficult year for investors in most markets", but its net asset value performance had been relatively resilient.
The investment company said its end markets have remained "unsettled" so far in the current financial year, not least by the UK's decision to leave the European Union, but it remains "optimistic" on its outlook.
BACIT shares were flat at 129.25p on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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