16th Jan 2014 06:25
LONDON (Alliance News) - BlackRock Throgmorton Trust PLC Wednesday said it had bought back into investment manager Brewin Dolphin after a "good meeting" with management.
It has also started a position in Xchanging, again after a good meeting with management, it said.
The trust, which tends to sell holdings if they enter the FTSE 100, said it sold the last part of its holding in Ashtead in December because of its promotion to the top index. It used the proceeds from the sale to fund the buys into Brewin Dolphin and Xchanging.
In a portfolio update, the representatives of the trust's investment manager said the trust's net asset value rose by 4.0% on a cum income basis over the month of December.
The benchmark index, now Numis Smaller Companies excluding AIM (excluding investment companies) Index) rose by 2.9%, whilst the FTSE 100 Index rose by 1.5%; all on a cum income basis.
At the end of December, the trust's net asset value, including income, stood at 342.36 pence.
The trust's shares last traded at 335.5 pence.
By Samuel Agini; [email protected]; @samuelagini
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Related Shares:
Throgmorton TrustBRW.LAshtead GroupXCH.L