1st Jul 2016 09:40
LONDON (Alliance News) - Miton Global Opportunities PLC on Friday reported growth in net asset value per share in its last financial year and said it will be keeping a close eye on developments after the EU referendum result.
The investment trust said its NAV per share grew by 0.4% in the year ended April 30 to 182.4 pence from 181.6p the year before. Its benchmark, the Sterling 3 Month LIBOR, rose by 2.6%, but it noted that the FTSE All-Share Index fell by 5.7% on a total return basis, while the FTSE 350 Investment Companies Index decreased 0.5%.
Miton said the strongest performers in its portfolio were residential property trust Taliesin and Chelverton Growth Trust, while the weaker performers were uranium producer portfolio owner Geiger Counter and Macau Property Opportunities Fund.
"The board believes that the investment case of your company, exploiting the inefficiencies across the investment company market and delivering capital growth whilst being aware of downside risks, is as strong as ever," Chairman Anthony Townsend said in a statement.
"The victory for the 'Leave' vote in last week's EU referendum has created a great deal of uncertainty as the implications for the UK and also for companies are worked out. The board and our investment manager will be keeping developments under close review," he added.
Shares in Miton were untraded on Friday morning, last quoted at 164.50 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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