31st Jul 2014 14:01
LONDON (Alliance News) - Jupiter Green Investment Trust PLC said Thursday it had underperformed its benchmark in the quarter to end-June.
The investment trust posted a total negative return on net asset value of 0.4%, compared to a positive return of 0.3% from its benchmark, the MSCI World Small Cap Index.
The company noted that its performance was held back as a result of its portfolio being underweight in the US and overweight in UK small and mid-cap stocks. It saw a poor performance from its US organic-food holdings.
Jupiter Green said stock market activity has slowed considerably during the summer lull. It remains mindful of heightened political risk in Iraq and elsewhere, and its potential effect on markets.
It noted that both US and Chinese governments had released plans to cut carbon emissions; saying that this shows that the momentum behind a united response to climate change and other environmental challenges is gaining traction.
Shares in Jupiter Green last traded at 140.35 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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