12th Feb 2016 14:33
LONDON (Alliance News) - BlackRock Throgmorton Trust PLC on Friday said portfolio managers Mike Prentis and Dan Whitestone are seeing good new investment opportunities in both small and mid cap stocks, amid market turmoil.
"In recent months the momentum behind global economic growth appears to be weakening with the slowdown in China continuing to cause concern. In the US, the recent rise in interest rates and stable growth, leading to the start of what is widely perceived as the gradual normalisation of interest rates are clear indicators that the US Government believes their economy is stronger than it has been over the past few years," Chairman Crispin Latymer said.
"In the UK the economy continues to grow, albeit, at a slower pace with concerns emerging that economic recovery is over-reliant on debt-related spending. In Europe more recent economic activity has slowed and deflationary fears are apparent, prompting the European Central Bank to signal further measures to stimulate growth," Latymer added.
The trust's net asset value per share returned 23.2% compared with a return of 11.9% for the Numis Smaller Companies excluding AIM (excluding Investment Companies) Index.
Since the year end and up to the close of business on Wednesday this week, the NAV has fallen by 7.8%, which is less than the benchmark index which fell by 9.6%.
The percentages were based on sterling figures with income reinvested.
Shares in the trust were up 2.2% at 307.00 pence on Friday afternoon.
By Samuel Agini; [email protected]; @samuelagini
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