10th Jun 2016 09:54
LONDON (Alliance News) - Edinburgh Worldwide Investment Trust PLC on Friday said several of its larger holdings, such as bond trading platform MarketAxess and electric car company Tesla Motors, were positive contributors to performance in the first half of its financial year. Detractors included several healthcare-focused holdings such as Alnylam Pharmaceuticals and Dexcom.
The investment trust said its net asset value per share, including income with debt at fair value, increased by 0.9% in the six months ended April 30, while the comparative S&P Global Small Cap Index (in sterling terms) increased by 5.6%. The trust's share price rose by 1.2%.
Managed by Edinburgh-based money manager Baillie Gifford, Edinburgh Worldwide aims to generate capital growth over the long term by investing in listed companies around the world.
MarketAxess makes up 5.3% of the trust's total assets, with the holding ascribed a GBP13.8 million fair value in first-half accounts. Tesla accounted for 2.8% of total assets at the end of the half, with the holding valued at GBP7.4 million.
Alnylam Pharmaceuticals, the RNAi therapeutics company, represented 3.2% of total assets, with the holding valued at GBP8.5 million, and Dexcom, the real-time blood glucose monitoring company, equalled 1.2% of total assets, with the trust's holding valued at GBP3.2 million.
Shares in Edinburgh Worldwide Investment Trust were little changed at 439.00 pence Friday.
By Samuel Agini; [email protected]; @samuelagini
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Edinburgh Worldwide Investment Trust