29th May 2014 16:46
LONDON (Alliance News) - Ecofin Water & Power Opportunities PLC Thursday said its net asset value per ordinary share rose by 10.2%, and 12.3% on a total return basis, over the course of the half-year.
In addition, Ecofin Water & Power Opportunities said net assets attributable to ordinary and zero dividend preference shares rose by 9.0%.
The total return per ordinary share, which is the change in the share price plus the dividends received and reinvested, was 13.4%.
Chairman Ian Barby said the performance compared favourably against the global equity markets' over the half-year.
The MSCI World Index of developed country equity markets rose by 6.5% in sterling terms on a total return basis over the six months ended March 31, while the MSCI World Utilities Index rose by 7.8% on a similar basis and the MSCI World Energy Index rose by 5.9%.
Barby said the performance reflected the company's geographical asset allocation and stock selection and took place against a background of a stronger performance by the utility sector, particularly in Continental Europe. The progress at Lonestar Resources Ltd also made a significant contribution to performance, the Chairman said.
Ecofin Water & Power Opportunities shares Thursday closed at 152.00 pence, up 2.7%.
By Samuel Agini; [email protected]; @samuelagini
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