17th Jul 2014 11:05
LONDON (Alliance News) - Global Resources Investment Trust PLC Thursday said that investor interest in the natural resource sector has remained subdued since it listed on March 7, with some "limited but encouraging activity in the gold sector" the highlight.
"The majority of portfolio companies have seen their shares marked down, with bid/offer spreads that are typically very wide exacerbating volatility and restricting liquidity. There have been exceptions, most notably in the case of West African based Merrex Gold, where local news flow saw its price increase by more than 80% in May," Global Resources Investment Trust said in a statement.
In the period from its launch to May 31, the trust's net asset value per share total return fell by 30.6%, while its share price total return fell by 37.5%.
Global Resources Investment Trust aims to generate medium and long-term capital growth through investing in a diverse portfolio of primarily small and mid-capitalisation natural resources and mining companies, which are listed on a relevant exchange.
Global Resources Investment Trust shares were Thursday quoted down 0.50 pence, or 1.5%, at 32.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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