25th Feb 2021 15:53
Mobius Investment Trust PLC - invests in 20 to 30 small to mid-cap companies across emerging and frontier markets - Reports an increase in net asset value per share to 105.9 pence as at November 30, the end of its financial year, from 91.4p the year before. Says stock selection an important driver of performance, with top three largest performance contributors being Chinese orthopaedic implants firm AK Medical; Taiwan-based technology firm eMemory Technology; and Indian branded steel products manufacturer APL Apollo Tubes. No dividend recommended, after paying out 0.30p per share the year before, with no plans "to do so in the near future as the portfolio continues to generate a modest yield".
Chair Maria Luisa Cicognani: "We are entering the new year full of hopes and expectation, eager to see the end of the Covid-19 pandemic. There are a number of factors that are boding well for emerging markets. First of all, the roll-out of an effective vaccine against Covid‑19 should lead to the normalisation of the emerging markets consumer and export themes. Capital markets in our countries have seen a strong rebound since the lows in March and we believe the economic recovery will follow."
Current stock price: 113.96p
Year-to-date change: up 5.0%
By Anna Farley; [email protected]
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