LONDON (Alliance News) - Investment and financial services company Alliance Trust PLC said Thursday its net asset value total return outperformed against its benchmark in the six months ended June.
FTSE 250-listed Alliance Trust's net asset value per share increased 6.8% to 793.2 pence each from 742.2p in June 2017. Alliance's NAV per share increased 2.0% in six months from 777.7p at December.
The investment company's total shareholder return was 1.1% and its net asset value total return was 2.9%. Compared to its benchmark, the MSCI All Country World Index returned 2.3% in the same period.
Alliance Trust said the NAV outperformance was driven by returns from the global equity portfolio constructed by Willis Towers Watson.
The company's interim dividend was boosted 3% to 3.39 pence.
The company believes, irrespective of short-term market conditions, Willis Towers Watson "robust" approach to investing will "stand shareholders in good stead for generations to come".
Chairman Robert Smith said: "I am pleased to report another period of steady performance against an increasingly volatile market backdrop, driven by returns from the global equity portfolio constructed by Willis Towers Watson, which now represents 95% of the Trust assets. We are on track to deliver the target we set when we started our new investment strategy on April 1 2017, of outperformance of 2% more than the benchmark after costs over a rolling three year period.
"Although the short-term market future looks set to remain uncertain, we remain focused on consistent outperformance over the long-term, at a competitive cost. We are encouraged by the steady progress made by Willis Towers Watson's "all-weather" approach to active stock picking."
Shares in Alliance Trust were up 0.6% Thursday at 767.20 pence each.
