LONDON (Alliance News) - F&C Capital and Income Investment Trust PLC Thursday said its performance was in line with its benchmark index in the first half of its financial year and superior when including income.
The trust said its share price rose by 3.9%, while its net asset value rose by 3.7% in the six months ended March 31, compared with 3.7% for the FTSE All-Share Index.
On a total return basis, including income, the share price was up 6.0%, net asset value up 5.9% and the index up 5.3%.
The trust has net assets of GBP245.4 million at the end of March.
"We expect to remain in a very low interest rate environment for some time to come. Even in the event that rates do rise, that rise is expected to be very modest. In this sort of world, investors are being actively encouraged to take more risk with their investments in order to generate any sort of return. In normal monetary circumstances, this would be dangerous behaviour, but in the unprecedented conditions which prevail today, it is rational," Chairman Steven Bates said.
"Of course, risks abound. A messy resolution to the Greek tragedy; geopolitical disruption; further dislocation in commodity markets; a hard landing in China; political and ecomonic challenges at home - any of these could cause indigestion or even upset. Nevertheless, overall the winds look set to stay favourable, we remain optimistic and see value opportunities for shareholders," Bates said.
F&C Capital And Income Trust shares were untraded on Thursday. The stock last traded at 267.25 pence.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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