(Alliance News) - EP Global Opportunities Trust PLC on Wednesday reported an annual net assets rise and said it swung to a full-year positive total return.
Net asset value per share at December 31 rose 3.9% year-on-year to 320.8 pence from 308.8p.
Shares in the investment company were untraded at 258.00p each in London on Wednesday morning.
EP Global reported a total return of 6.0%, improved from negative 7.1% from the year prior.
It also upped its dividend by 15% to 7.5p per share from 6.5p.
Among the company's investments include blue-chip firm like pharmaceutical heavyweight AstraZeneca PLC, telecommunications firm Vodafone Group PLC and grocer Tesco PLC.
EP Global said: "Equity valuations continued to rise during 2019, despite sluggish corporate
earnings and a reduction in growth forecasts worldwide, the latter, in part, impacted by the trade tensions between the US and China. The US equity market enjoyed its third largest rise of the past 20 years, driven largely by valuation expansion.
"The realisation that the outbreak of coronavirus in China and its spread to other countries could turn into a pandemic with severe consequences for the global economy led to a dramatic reversal in investor confidence. Share prices fell sharply in February. Governments and central banks have already announced measures to try and limit the financial and economic damage but given the uncertainty created, further volatility in share prices is likely."
By Eric Cunha; ericcunha@alliancenews.com
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