2nd Aug 2024 14:24
(Alliance News) - Mobius Investment Trust PLC on Friday said outlook for the second half of the financial year is "more positive" as global inflation and monetary policy ease.
Mobius Investment is a London-based investment trust, with a diversified portfolio of companies exposed to emerging or frontier markets.
Mobius Investment reported an 11% increase in net asset value per share to 141.7 pence on May 31, from 127.6p a year before.
NAV total return was negative 1.0% for the six months that ended May 31, improving from negative 4.0% a year prior.
Looking ahead, the firm said it expects a stronger financial-year second half as "global inflation cools and monetary policy eases".
Chair Maria Luisa Cicognani said: "We believe emerging markets are poised for significant growth in the medium-term, driven by a favourable macroeconomic backdrop, structural and cyclical growth stories and attractive valuations. The rise of artificial intelligence is a key investment driver, with companies that supply major tech companies benefiting significantly from this trend, including a number of [Mobius Investment's] holdings."
Mobius Investment shares were down 2.3% to 134.35p each in London on Friday afternoon.
By Lydia Doye, Alliance News reporter
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