5th Nov 2015 11:43
LONDON (Alliance News) - Capital Gearing Trust PLC on Thursday said its net asset value per share was 3,240.5 pence at the end of October, compared with 3,297.6p at the end of April, a decline of 1.7%.
The trust said its performance compared with declines of 6.5% in the FTSE All-Share index and of 9.2% in the sterling FTSE All-World index.
"Investment markets have been battered by a succession of headwinds over the summer - the slowdown in the Chinese economy, continuing uncertainties for the Eurozone, falling commodity prices and the markets' monthly preoccupation with guessing the timing and effects of the first upward move in interest rates from the Federal Reserve Board," the trust's statement said.
"The low-risk investment strategy consistently applied by the trust over the last few years has at least achieved protection of capital against this adverse and volatile background," the statement continued.
Shares in Capital Gearing Trust were up 1.8% at 3,258.80 pence Thursday late morning.
By Samuel Agini; [email protected]; @samuelagini
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