Crest Nicholson Share News (CRST)

LONDON (Alliance News) - Threadneedle UK Select Trust Ltd said Thursday that it outperformed its benchmark in the first half of 2015, reporting a total return on net asset value of 4.5%.

Its benchmark, the FTSE All-Share Index, posted a total return of 3%.

It proposed a first interim dividend of 1.90 pence, increased from 1.85 pence a year before.

The trust highlighted Crest Nicholson Holdings PLC as a strong contributor and also good performances from housebuilding stocks, whilst consumer-discretionary and telecoms stocks were the best performers.

UK equities rose in the first half, although there was a divergence between mid-cap and larger caps, Threadneedle UK said, with the FTSE 250 gaining 10.5% whilst the FTSE 100 only advanced by 1.4%, as mining and energy stocks were hit by the fall in commodity prices.

"The outlook is challenging, there is a lot to think about, but we are very clear that UK equities are a reasonable place to be and our track record in good old-fashioned stock picking should continue to deliver decent returns going forward," the trust said in a statement.

Shares in Threadneedle UK Select Trust were untraded Thursday. It last closed at 176.00 pence Thursday.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

Copyright 2015 Alliance News Limited. All Rights Reserved.