9th Feb 2024 11:16
(Alliance News) - Invesco Select Trust PLC said all four portfolios increased net asset values in its latest half year, with two beating their indexes.
Shares in the investment trust's Global Equity Income portfolio were trading 1.3% higher at 272.50 pence in London on Friday.
The Global Equity Income portfolio's NAV at November 30 was 284.52 pence per share, up 7.2% from 265.53p at May 31.
Invesco said the portfolio delivered a positive 8.4% NAV total return in the six months to November 30. It outperformed its benchmark, the MSCI World Index, which delivered positive 6.4%.
Invesco's UK Equity portfolio, meanwhile, reported an NAV of 184.63p at November 30, up from 182.11p. Its NAV total return was positive 3.2%, while the FTSE All-Share Index delivered positive 1.6%.
The Balanced Risk Allocation portfolio delivered a positive 2.7% total return, underperforming its composite benchmark index which Invesco said delivered positive 5.2%. Its NAV per share increased slightly over the half year to 150.59p from 149.56p.
Finally, the Managed Liquidity share portfolio delivered an NAV total return of positive 2.5%. Invesco did not provide a comparative index. The portfolio's NAV increased to 111.29p per share at November 30 from 109.51p six months prior.
Invesco Select Trust said that going forward, "your board has confidence in its award-winning Global Equity Income fund manager, Stephen Anness, to continue to seek out investment opportunities for the ongoing benefit of shareholders. Your board believes his approach to be rigorous, differentiated and balanced. Under Stephen’s stewardship the Global Equity Income Share Portfolio has delivered strong, sector-leading NAV total return performance over both one and three year periods."
The company added that once it has completed plans to consolidate all three other share classes into the Global Equity Income share class, "The [Global portfolio's] investment objective and investment policy...will be retained, reflecting your board’s confidence in Stephen's investment process as well as the strength and depth of his team."
By Emma Curzon, Alliance News reporter
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