2nd Aug 2016 11:13
LONDON (Alliance News) - Fundsmith Emerging Equities Trust PLC on Tuesday said its net asset value per share jumped year-on-year in the first half but fell over the course of the first six months of 2016.
Fundsmith said its net asset value per share grew 12% year-on-year to the end of June to 1,035.10 pence. But in the six months to the end of June, its net asset value per share declined 2.6%.
The investment fund said its net asset value increased sharply in the days after the EU referendum in the UK due to the subsequent drop in the value of sterling after the vote outcome was announced.
The fund said the long-term impact of Brexit is not yet clear but said its approach to investment will remain unchanged.
Shares in Fundsmith Emerging Equities were down 1.2% to 1,107.00 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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