25th Jul 2016 16:31
LONDON (Alliance News) - Temple Bar Investment Trust PLC said Monday it underperformed its benchmark in the first half of 2016.
The trust saw a total return on net asset value of 3.8%, slightly underperforming the FTSE All Share index, which saw a total return of 4.3%.
Temple Bar said that a notable feature of the half year was the "long awaited out-performance or larger companies relative to their smaller brethren", with the FTSE 100 performing better than the FTSE 250 largely to due to the aftermath of the UK's vote to leave the European Union.
The trust said that its portfolio benefited from its exposure to previous metals, and it also saw positive contributions from BP PLC and GlaxoSmithKline PLC, whilst the banking sector was hit following the Brexit vote.
Temple Bar said that its positive performance compared to the FTSE All-Share Index prior to the Brexit vote was lost in the week after the poll result.
It proposed a second interim dividend of 8.09 pence per share, compared to 7.93 pence the previous year.
Shares in Temple Bar closed up 0.3% at 1,107.00 pence Monday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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