16th Sep 2013 15:07
LONDON (Alliance News) - City of London Investment Trust Monday said its net asset value per share gave strong returns over the full year, as it said it outperformed the FTSE All-Share index.
The trust said its net asset value per share gave a return of 23.8% between June 30 and the same date in 2012, which it said was 5.9 percentage points ahead of the FTSE All-Share Index. Last year's return on the trust's NAV per share was only 2.3% in comparison.
It put this down to underweight positions in the oil and mining sectors, along with overweight position in industrial engineering.
City of London Investment Trust's shares were Monday quoted at 369.289 pence, up 3.289 pence, or 0.9%.
By Samuel Agini; [email protected]; @samuelagini
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