13th Jun 2016 15:33
LONDON (Alliance News) - Blackrock Income Strategies Trust PLC on Monday said its net asset value fell by 0.9% in the first half of its financial year.
The trust said its NAV in the six months ended March 31 fell to 129.80 pence from 131.00p in the six months to September 30.
Blackrock said the first half was a challenging period for the company, with "significant market volatility" caused by concerns over slowing growth in China, uncertainty surrounding US growth, uncertainty over the outcome of the forthcoming EU referendum and weak oil and resource prices.
"This has been a challenging period for your company. However, we remain confident in our strategy and believe that the flexible and multi-asset approach to investing will enable the company to achieve its investment objective," Chairman James Long said in a statement.
Shares in Blackrock were trading down 0.6% at 117.79 pence on Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
BIST.L