16th May 2014 12:00
LONDON (Alliance News) - City Natural Resources High Yield Trust PLC Friday said its net asset value total return per share for the third quarter ended March 31, rose 4.1%, outperforming its benchmarks.
The investment trust said its net asset value per share as at March 31 was 154.1 pence, 3.5% higher than 148.9 pence as at December 31.
"A better quarter for commodity markets was echoed in the sector's equities," the trust said in a statement.
The trust said its share price also rose 3.5% during the period, to 125.0 pence at the period-end, compared with 120.8 pence the previous quarter, while discounting was unchanged at 18.9%.
"The company's large energy exposure played a full part in this, with oil and gas stocks benefitting from an unusually cold and protracted North American winter and nervousness around the situation in the Ukraine, while uranium stocks were strong in spite of a subdued spot price," the trust said.
Shares in the trust were down 1.1% at 138.12 pence Friday early afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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