20th Feb 2020 11:49
(Alliance News) - Brunner Investment Trust PLC on Thursday reported an improvement in net asset value in its most recently ended financial year.
The stock was 0.6% higher in London in afternoon trade at 915.84 pence a share.
The company said its share price at the end of 2019 stood at 911p, representing just under a 6% discount to NAV.
The company reported a 13.2% increase in NAV per share to 945.8p as at the end of November 2019 compared to 843.9p a year ago.
This was ahead of the company's benchmark, the combined FTSE World Ex-UK and FTSE All-Share Index, which rose by 12.6% on a total return basis over the same period.
Brunner proposed a final dividend of 6.0p per share, taking the total payout for the year to 19.98p, up 10% on the prior year.
"Equity markets are still attractively valued when compared to bond markets. We believe that the manager's strategy of carefully buying quality companies, backed by the detailed analysis carried out to ensure every investment held in the portfolio is justified, will continue to serve the company well in the future," said Chair Carolan Dobson.
By Evelina Grecenko; [email protected]
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