21st Feb 2014 18:35
LONDON (Alliance News) - The Brunner Investment Trust Friday said it outperformed its benchmark in its last financial year as its net asset value rose by 18.5% with debt at par and by 23.2% with debt at fair value.
The benchmark returned 17.9%.
"Although markets have recovered strongly, an environment of moderate growth, contained inflation, low interest rates and accommodative monetary policy should be benign for equities," Keith Percy, chairman, said in a statement.
"Government bonds generally remain unattractive due to asymmetrical downside risk from the eventual ending of quantitative easing and potential rise in inflation over the medium term. As such, our investment managers' strategy of focusing on high quality, capital-disciplined and reasonably valued companies should continue to generate positive long-term returns for investors," Percy added.
The company declared a dividend of 14.5 pence a share, up 9%.
Brunner shares Friday closed at 539.50 pence, down 0.50 pence, or 0.1%
By Samuel Agini; [email protected]; @samuelagini
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