20th Aug 2025 10:34
(Alliance News) - Temple Bar Investment Trust PLC on Wednesday said UK equities are benefiting from attractive valuations and ongoing corporate activity, as it posted a higher net asset value.
The London-based company, which primarily invests in UK equities, said net asset value per share at fair value rose 12% to 325.4 pence as at June 30 from 291.1p at December 31.
NAV total return was 14% in the first half of 2025, beating the FTSE all-share index, which had a return of 9.1%, and improved upon the company's NAV total return of 13% in the first half of 2024.
Dividends per share in the first half of 2025 were 6.75p, up 35% from 5.00p a year prior.
Temple Bar said its performance was helped "large rises" in banks Johnson Matthey PLC, Barclays PLC, NatWest Group PLC, Standard Chartered PLC and ABN Amro Group NV as well as insurance firms Aviva PLC and NN Group NV, among others.
Looking ahead, Chair Richard Wyatt said: "The new government has been in place in the UK for over a year and faces a number of challenges. Domestically it has the difficult task of trying to balance the need for public sector investment and prudent management of the UK's fiscal position without stifling business and consumer confidence, while internationally it navigates continued geopolitical uncertainty alongside apparently capricious shifts in global tariffs and trade policy. Despite global macroeconomic uncertainty, including uneven global growth and differing monetary policy paths, the UK market benefits from political stability, attractive valuations, and ongoing corporate activity.
"The timing and pace of interest rate cuts also remains unclear, despite continued weakness in the UK economy and a relatively subdued level of inflation. However, the board believes that any concerns here are reflected in current valuations. The portfolio manager continues to focus on long-term value opportunities, and the board remains confident that the trust will continue to deliver attractive returns over time."
Temple Bar shares were down 0.6% at 343.55 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News slot editor
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Related Shares:
Temple Bar Investment TrustJohnson MattheyNatwestStandard CharteredAviva