Monks Investment Trust has been battered by the ill winds of the Eurozone crisis in the 12 months to the end of April.
The trust, which is managed by Baillie Gifford & Co in Edinburgh, saw its net asset value (including capital and income) drop 4.5%. The share price total return fell 6.2% compared to the company's benchmark FTSE World Index which came in 2.6% down on the prior year.
The company's largest stake is in IP Group, of which Monks is a 3% stakeholder. That stock did well during the year but a series of investments in gold miners were a major problem, as well as an investment in poor old Research In Motion.
The total dividend for the year has been announced as 3.95p per share, up from the 3p seen in 2011.
Monks is now very cautious on the direction of markets, saying today that: "Notwithstanding the attraction of many individual investment opportunities, significant risks remain of a systemic nature."
Over the 12 months until the end of April Monks' share price dropped 7%, since then the stock has fallen a further 2.8%.
CSR, the chipmaking firm, has taken a hit after Numis downgraded the group to 'add', from 'buy', on the back of worrying news from its major customer Nokia this week, which cut its second-quarter outlook. [2 Jun '11]
The Monks Investment Trust, which focuses on international growth stocks and is managed by Edinburgh based fund management group Baillie Gifford, outperformed its benchmark index last year. [2 Jun '11]
Mining stocks are dragging the market higher as metal prices bounce on reports of an exports surge in China. A news agency is reporting that China's exports in May were 50% higher than a year earlier. [9 Jun '10]
The blue-chip index has limped back into the blue despite the weakness of oil stocks. Around three quarters of the market-value weighted index's constituents are higher but with heavy hitters BP, Shell and BG in the red the Footsie is struggling to make headway. [9 Jun '10]
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