21st Jun 2019 18:35
(Alliance News) - Hansa Trust PLC on Friday said it had a "good" year, seeing a rise in net asset value, despite the political and economic "turmoil" seen in the twelve months to March 31.
At March 31, the trust's NAV per share stood at 1,405.60 pence, 4.4% higher than the 1,346.3p reported at the same point a year earlier.
Hansa's net assets climbed a similar amount, rising to GBP337.4 million from GBP323.1 million the year before.
The trust did not declare a final dividend but noted it has already distributed two 8.0p interim dividends, matching the year before.
Over the period, the trust's NAV total return was 5.6%. The trust's performance was ahead of two of its three benchmarks. The FTSE UK Gilts All Stocks TR Index gained 3.7%, UK CPI Inflation added 1.9%, but the MSCI ACWI NR added 10.8%.
The trust's portfolio manager said: "The past year really has been one of contrasts for world stock markets. Having been weak for much of 2018, culminating in the worst December for many years, the first quarter of 2019 has been one of the strongest in the current cycle. Indeed, the S&P 500 saw its highest return since 1998, Chinese equities enjoyed their best quarter since 2014 and oil had its best quarter in a decade. Rather counterintuitively in such a risk-on environment, even bonds generated positive performance."
Shares in Hansa Trust closed down 0.5% Friday at 1,010.00 pence each.