5th Aug 2016 13:01
LONDON (Alliance News) - European Real Estate Investment Trust PLC, Polo Resources Ltd and BP Marsh & Partners PLC were the star performers amongst London-listed investment funds in July, all pushed higher by positive news flow, according to QuotedData.
European REIT's share price rose 56% over the course of the month as it continued to sell off assets and return cash to shareholders. The trust sold 70% of its portfolio during the month.
Polo Resources, a natural resources sector investor, was boosted by news that Blackham Resources Ltd, in which Polo has an 8.1% stake, had started mining work on the Matilda gold project in Australia. Polo's share price rose 26% in July.
Venture capital provider BP Marsh, meanwhile, saw its share price rise 24% over the month as its shares were run up ahead of an announcement that it may sell its stake in Besso Insurance. At the end of the month, BP Marsh confirmed it has hired advisers to carry out a strategic review of its 45% stake in Besso.
On the losing side, very few investment trust shares prices fell in July, QuotedData said. One of the holdings of Nimrod Sea Assets Ltd was put into administration in the month, causing its share price to fall 26%.
By Sam Unsted; [email protected]; @SamUAtAlliance
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