1st Mar 2019 15:27
LONDON (Alliance News) - Mid Wynd International Investment Trust PLC on Friday said it underperformed its benchmark in the first half of its current financial year following a 4.6% decline in net asset value.
The company reported NAV per share of 455.49 pence for the six months to the end of December 2018, down from 477.30p a year earlier.
The trust's NAV total return was negative 7.0%, while its benchmark, the MSCI All Country World Index, returned negative 5.7%.
Share price total return was negative 5.9%. Shares were trading at 465.00p at the end of 2018, representing a 2.1% premium to NAV.
The stock was down 0.3% on Friday at 500.85p a share.
Mid Wynd International declared an interim dividend of 1.98p a share, up 10% from 1.80p paid the year before.
The company explained that the first half of its current financial year, ans in particular the last quarter, has been a volatile period for equity investments due to Brexit uncertainties.
Looking ahead, Chair Malcolm Scott said: "We are continuing to focus on a balanced and diversified defensive portfolio with strong asset backings as well as earnings potential."
Related Shares:
Mid Wynd International Investment Trust