5th Feb 2020 15:44
(Alliance News) - Invesco Perpetual Select Trust PLC on Wednesday said that the net asset value return of all portfolios grew in the first half of its financial year.
For the six months to the end of November 2019, the investment trust said that the UK Equity Portfolio's net asset value total return with dividends reinvested grew by 6.4% compared to 5.8% return from benchmark index, the FTSE All-Share Index.
The Global Equity Income Portfolio's net asset value total return grew by 9.1% during the period, whilst the benchmark MSCI World Index in sterling terms grew by 10.1%.
The Balanced Risk Allocation Portfolio's net asset value total return grew by 4.6%, while the Merrill Lynch 3-month LIBOR plus 5% per annum returned 2.9%.
The Managed Liquidity Portfolio's net asset value returned 1.1%.
Looking ahead Chair Graham Kitchen said: "Since the period end, equity markets have continued to rise, with both the US S&P and NASDAQ indices reaching all-time highs. After a year of very positive returns from markets, a more cautious outlook seems appropriate. Against this background our portfolio managers continue to emphasise valuation, holding relatively cheap assets which mitigate some of the wider risks in the equity market."
By Ife Taiwo; [email protected]
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