24th Nov 2015 13:28
LONDON (Alliance News) - BACIT Ltd, a closed-ended investment company, on Tuesday said its net asset value total return was negative 3.28% in the six months ended September 30.
The NAV fell to 118.88 pence in that time from 125.05p, including August's payment of a 2.1p dividend. The company's share price rose to 131.0p from 121.25p in the period.
"Although it is disappointing to report a fall in net asset value, BACIT's performance was again more resilient in falling markets than equity and hedge fund indices," Chairman Jeremy Tigue said.
The FTSE All Share index and the HFRI Fund of Funds Strategic index total returns were negative 7.19% and negative 6.78% respectively over the period.
"BACIT continues to be positive on UK, European and Japanese equities and cautious about the US, emerging markets and fixed income," Tigue said.
Shares in BACIT were flat at 128.75p on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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