29th Jun 2020 17:29
(Alliance News) - Bankers Investment Trust PLC on Monday reported a first half net asset value fall but did outperform its benchmark.
Net asset value per share at April 30 was 907.1 pence each, down 2.5% from 929.9p. Its annual NAV total return was negative 3.2%, though this beat a composite of FTSE All-Share Index and FTSE World Index which lost 5.3%.
Shares in the company closed 0.5% higher at 993.00p each in London on Monday.
Bankers Investment raised its dividend by 4.9% to 10.70p from 10.20p.
"Our returns were positive for the first half of the period under review and, in February, our net asset value and share price rose to all-time highs. However, everything changed from late February into March as the pandemic spread rapidly across the globe," the investment firm said.
"This brought the record-breaking bull market to an abrupt end, with global equity markets experiencing some of the largest and quickest falls in history."
By Eric Cunha; [email protected]
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