6th Apr 2016 11:30
LONDON (Alliance News) - Mercantile Investment Trust PLC on Wednesday said it outperformed its benchmark in its last financial year.
The trust's net asset value return of 12.9%, including cum income and with debt at par value, beat the benchmark's 4.7%, in the year ended January 31.
Its benchmark is the FTSE All-Share Index excluding constituents of the FTSE 100 Index and investment trusts with net dividends reinvested.
The trust's share price total return was 18.6%.
"This result is good in itself, but to put it in perspective, and no less importantly, your company has outperformed its benchmark by 11.0% and 6.7% over three and five years respectively," Chairman Hamish Leslie Melville said in a statement.
The trust said it has beaten the FTSE 100's performance by 41.6%, 50.5% and 76.9% over three, five and ten years, respectively.
Shares in Mercantile Investment Trust were up 0.3% at 1,649.54 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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