17th Dec 2019 17:43
(Alliance News) - Edinburgh Worldwide Investment Trust PLC said on Tuesday it beat its benchmark in its recently-ended financial year.
Edinburgh Worldwide Investment Trust posted a net asset value total return of 7.4% for the year to October 31, versus its comparative index, the S&P Global Small Cap Index, returning 7.2%.
The firm's net asset value per share at the period end amounted to 177.37 pence, up from 165.16p a year ago.
"The good relative and absolute performance was driven by several holdings, most notably Novocure, a US manufacturer of medical devices for cancer treatment, Seattle Genetics, a US biotechnology developer of monoclonal antibodies, and Galapagos, a Belgian clinical stage biotechnology company. On balance, the underlying performance of the holdings in the portfolio continues to progress as hoped," the trust said.
Shares in Edinburgh Worldwide Investment Trust closed up 0.3% at 194.01p in London on Tuesday.
By Lucy Heming; [email protected]
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