15th Oct 2013 10:56
LONDON (Alliance News) - City Merchants High Yield Trust Limited Tuesday said its net asset value, with dividends reinvested, rose 3.4% during the third quarter, with high yield bonds performing well relative to other areas of the bond market, providing positive returns in a period of rising government bond yields.
The trust said it continues to target total dividends of 10 pence for the current year.
The trust's shares were Tuesday quoted at 172.50 pence, up 1.75 pence, or 1.0%.
By Samuel Agini; [email protected]; @samuelagini
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