Last checked at 
(Alliance News) - Edinburgh Investment Trust PLC on Friday reported "another disappointing year of investment performance", with net asset value return underperforming against its benchmark index.
The investment trust recorded a negative net asset value return of 27% for the year ended March 31 versus a negative 19% return for its benchmark, the FTSE All-Share index.
Share price return was negative 29% in financial 2019. The stock was trading 1.0% higher on the day at 469.68 pence each in London on Friday. It is down 20% in the past 12 months.
Net asset value per share at March 31 stood at 490.40 pence each, down 30% year-on-year from 696.91p a year ago.
The company said its financial 2020 results reflect the fact that UK domestic-focused stocks continued to be out of favour for most of the year. This was compounded by a number of stock-specific issues and the sharp falls in markets following the onset on the Covid-19 crisis and the associated lockdowns.
The Edinburgh-based company has proposed a final dividend of 9.45p per share, giving a total payout of 28.65p for financial 2020, up 2.3% year-on-year.
By Tapan Panchal; tapanpanchal@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
