16th Apr 2014 16:21
LONDON (Alliance News) - EP Global Opportunities Trust PLC Wednesday said that it underperformed the FTSE All-World Index in the quarter to end-March, although it outperformed the FTSE All-Share Index.
The investment trust posted a negative total return on net asset value per share of 0.2%, under performing the FTSE All-World Index which saw a total return of 0.5%, but outperforming the FTSE All-Share Index which declined 0.6%.
The trust said that there had been minimal movement in world equity markets during the first quarter, although following "significant market gains" in 2013 they were now fairly valued and could be vulnerable to profit taking.
The company said it had seen value emerge in the health care sector that was not currently recognised by investors.
"Improved drug discovery and development techniques should help make research and development in pharmaceuticals more efficient and improve long-term profitability," the company said in a statement.
EP Global closed up 0.7% at 227.5 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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