19th Nov 2015 08:36
LONDON (Alliance News) - Caledonia Investments PLC, a self-managed investment trust, on Thursday said it is confident that its portfolio will generate value for shareholders with "attractive returns" over the long term, though it expects to see continued volatility in financial and commodity markets in the coming months.
"Despite challenging global equity markets, our portfolio has delivered a resilient performance and continues to benefit from strong income generation, which grew 6.9% in the period, supporting a further 3.6% increase in our dividend," Chief Executive Will Wyatt said in a statement.
Caledonia Investments said that the strong performance of its investments that don't trade on exchanges provided "balance" to more volatile quoted markets.
Wyatt's comments came as the trust said its net asset value per share total return was down 3.8% in the six months to September 30, a result of "challenging" market conditions. The NAV per share total return for the 12 months to that point was up 5.0%.
NAV amounted to GBP1.55 billion at the end of September against GBP1.63 billion at the end of March.
Caledonia Investments lifted its interim dividend y 3.6% to 14.3 pence.
Shares in Caledonia Investments were flat at 2,395.00p early Thursday.
By Samuel Agini; [email protected]; @samuelagini
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