16th May 2014 10:47
LONDON (Alliance News) - New Star Investment Trust PLC Friday said it underperformed its benchmark over the first-quarter of the year, but still posted an absolute return.
The trust said its net asset value per share increased to 106.89 pence at bid, from 106.68 pence, in the three months ended March 31, an increase of 0.20%. Its benchmark, the IMA Mixed Investment 40-85% Shares Index, rose by 0.28% over the same period.
The sterling adjusted MSCI AC World Total Return Index rose by 0.55%, while the MSCI UK Total Return Index fell by 1.47%.
Net assets were GBP75.9 million, an increase from GBP75.8 million at the end of 2013.
The share price increased to 71.00 pence from 68.50 pence over the period.
By Samuel Agini; [email protected]; @samuelagini
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