9th Sep 2020 11:30
(Alliance News) - CQS Natural Resources Growth & Income PLC on Wednesday said its performance deteriorated in its most recently ended financial year.
The company, which holds a portfolio of mining and resource equities, said NAV total return was negative in the year to the end of June of 11%. In comparison, the EMIX Global Mining Index (sterling adjusted) and Credit Suisse High Yield Index (sterling adjusted) returned positive 6.9% and 1.2%, respectively.
Net asset value per share as at June 30 was 98.6 pence, down from 116.2p reported on the same day a year before.
Share price stood at 79.3p at the end of the financial year, representing a 20% discount to NAV.
CQS Natural Resources Growth & Income shares were trading 0.2% higher in London on the day Wednesday at 95.00p each.
The company said it will maintain its annual payout at 5.60p a share.
In the first half of the year, before the pandemic, the fund said its performance had been positive and was recovering from the previous reporting period. The brutal sell off in March in reaction to the Covid-19 health crisis then wiped out this recovery, the company said.
By Evelina Grecenko; [email protected]
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