21st Sep 2015 09:46
LONDON (Alliance News) - New Star Investment Trust PLC on Monday said it underperformed against its benchmark in the year to the end of June.
The trust said its net asset value per share rose 4.8% in the year to 112.43 pence, from 107.33 pence a year earlier, compared to a 6.7% rise for the Investment Association's Mixed Investment 40-85% Shares index, a basket of similar multi-asset funds.
The fund's holdings in the year experienced diverging performance, with UK equities hit by the collapse in the oil price over the reporting period, while its holdings in Asia and India were strong, with a particularly good performance from Wells Fargo China. This was offset, however, by a weak performance for its holdings in Russia, which was hit by sanctions imposed on the country over its actions in Ukraine.
Shares in the trust were untraded on Monday, having last traded at 76.90 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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