15th Feb 2019 11:31
LONDON (Alliance News) - Healthcare-focused investor BB Healthcare Trust said on Friday it outperformed its benchmark for its recently ended financial year, and proposed a larger dividend for the period.
For the year to the end of November, BB Healthcare Trust reported a net asset value total return of 24%, beating the MSCI World Healthcare Total Return Index, which returned 18% in sterling terms.
Net asset value per share as at November 30 was 138.7 pence, up from 115.4p the same date the year before. BB Healthcare's share price at the end of November was 140.0p, reflecting a premium to net asset value of 0.9%.
Shares in the trust remained flat at 142.49 pence on Friday.
For the year, BB Healthcare declared a total dividend of 4.85 pence per share, up from 4.00p the year before.
BB Healthcare said 2018 was a challenging one for healthcare investors, due to various macro-political uncertainties. However, the healthcare sector outperformed the wider market during the year, due to its perceived "safe haven" status.
Looking ahead, with these political uncertainties looking to continue healthcare is expected to remain a safe haven.
"We are investing in those changes and the trends that drive them. All other factors being equal, this should allow the portfolio to grow its sales and profits faster than the aggregate of a benchmark-aware strategy. We begin the year again hopeful that the healthcare sector's 2019 performance will be more driven by stock fundamentals," said Chair Justin Stebbing.
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