20th Aug 2014 09:00
LONDON (Alliance News) - The Scottish Investment Trust PLC said Wednesday it underperformed the FTSE All-World Index in the three months to July 31, although it outperformed the UK FTSE All-Share Index.
The trust - which aims to achieve dividend growth ahead of UK inflation through a portfolio of international equities - saw a total return on net asset value per share of 0.9%, lagging behind the 3.1% sterling total return of the FTSE All-World Index, but beating the negative 0.2% total return of the UK FTSE All-Share Index.
John Kennedy, the trusts manager of 10 years, left during July, replaced by Alasdair McKinnon, who had been assistant manager.
It bought back 900,000 shares at an average discount of 9.7% and at a cost of GBP5.2 million during the period, it said.
Shares in The Scottish Investment Trust were trading down 1.0% at 585.50 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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