LONDON (Alliance News) - British Empire Securities & General Trust PLC Wednesday said its net asset value per share rose in its third quarter, but underperformed against its benchmark.
During the three months ended June 30, the company's shares rose by 2.2% on a total return basis, compared to an increase of 2.6% for its benchmark index, the MSCI ACWI Ex US.
British Empire Securities said the period was marked by an increase in activity in both purchases and sales, with the company seeing increased levels of corporate activity across its portfolio.
The company said the largest positive contributors to performance were Aker ASA, Dogan Holding, Rallye, Gagfah and First Pacific but the largest detractors to performance were Jardine Matheson, Vivendi, Marwyn Value, WM Morrison and Sofina.
Shares in the trust were down 1.0% to 494.20 pence on Wednesday.
By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1
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