3rd Oct 2025 13:39
(Alliance News) - Franklin Global Trust PLC on Friday reported "disappointing" interim trading as its net asset value declined amid volatility in the US.
The Edinburgh-based investor formerly known as Martin Currie Global Portfolio Trust PLC reported a net asset value per share of 364.4 pence at July 31, down 4.8% from 382.7p at January 31.
NAV total return for the period was minus 4.1%, falling short of the benchmark MSCI All Country World index's 1.3% gain, with the company describing performance as "disappointing".
The trust said the six months were a "volatile period", in which US tariff announcements in April disrupted an initial few weeks of calmness in the markets.
"Whilst the intention to impose tariffs was signalled in advance, both the number of countries affected and the level of tariffs were higher than expected," said the company. It added that a degree of tranquillity returned as some proposals were rolled back and negotiations between regional blocs and the US were undertaken.
Franklin Global declared an interim dividend per share of 1.80p, flat with the prior year.
Shares in the trust rose 0.7% to 369.60p on Friday afternoon in London.
Looking ahead, Chair Christopher Metcalfe said: "Markets have remained stronger than many had predicted given the many challenges they have faced. We will continue to concentrate on the medium to longer term prospects and focus on ensuring the company is correctly positioned to benefit from them."
By Christopher Ward, Alliance News reporter
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