17th Nov 2021 09:48
(Alliance News) - Worldwide Healthcare Trust PLC on Wednesday said its performance came in below its benchmark's in the first half of its current financial year.
The London-based investor in the global healthcare sector reported net asset value per share as at September 30 of 3,700.7 pence, down from 3,703.0p recorded on March 31. NAV total return over the six months totalled 0.4%, sharply below the benchamark, MSCI World Health Care Index, which returned 13%.
The trust's share price at the end of its first financial half stood at 3,625.0p, representing a 2.0% discount to NAV.
FTSE 250-listed Worldwide Healthcare Trust shares were trading 0.6% higher on the day Wednesday morning at 3,750.41p each.
"Following a period of strong relative and absolute performance, the first six months of the current financial year have proved to be challenging for the company," said Chair Martin Smith. "The principal reasons for this underperformance were the significant overweight positions in poorly performing emerging biotechnology and China, a strategy that had previously served the company well."
Despite that, the company declared an increased interim dividend of 7.0p per share for the year to the end of March 2022, up from 6.5p paid a year before.
By Evelina Grecenko; [email protected]
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