Brunner Inv.tst Share News (BUT)

(Alliance News) - Brunner Investment Trust PLC on Thursday hiked its dividend after reporting an improvement in net asset value in the first half of its current financial year.

Brunner's NAV total return for the first half was 2.9%. In comparison, the trust's benchmark returned 3.4% over the same period. The benchmark applied is 70% FTSE World Ex UK Index and 30% FTSE All-Share Index.

The fund reported NAV at fair value per share as at May 31 of 861.2 pence, up 1.8% from 845.8p reported at the end of November 2018.

The company's share price stood at 774.0p at the end of May, with the discount of NAV to share price at 10%.

The stock was trading 1.4% lower on the day Thursday in London at 853.96p a share.

Brunner declared an interim dividend of 9.32p a share, up 15% from 8.1p paid the year before.

"Monetary policy and trade are likely to remain key drivers of market behaviour in the foreseeable future," said Investment Manager Lucy Macdonald.

"Therefore, an active approach such as ours, driven by superior stock selection, is going to be required to provide additional upside," added Macdonald.