29th Aug 2014 17:03
LONDON (Alliance News) - Fundsmith Emerging Equities PLC said its total losses in the first-half to June 30 amounted to GBP132,000, while investment income totalled GBP4,000.
This is Fundsmith's first reporting period.
The company's investment objective is to provide shareholders with an attractive return by investing in a portfolio of shares issued by listed or traded companies which have the majority of their operations in, or revenue derived from, developing economies and which provide direct exposure to the rise of the consumer classes in those countries.
The company said it raised GBP192.9 million at its launch on June 25 and that there are 19.3 million shares in issue.
"The market value of the shares has remained just above the subscribed amount," it said.
Fundsmith Emerging Equities PLC share closed up 0.7% at 1,095.00 pence Friday.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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