(Alliance News) - Invesco Income Growth Trust PLC on Tuesday said it outperformed its benchmark in the six months to September, despite global and domestic political and economic uncertainty.
At September 30, trust's net asset value per share stood at 326.8 pence, compared to 311.2 pence at March 31.
The company said its net asset value total return was 6.4%, ahead of its benchmark, the FTSE All-Share Index, which returned 4.6% over the same period.
The company has declared a second interim dividend of 2.5 pence per share for the year ending March. Together with the first interim dividend of 2.5 pence, this makes a total of 5.0 pence for the first half of the current financial year, a 4.2% increase from 4.8 pence a year ago.
The company said market conditions have proven no less challenging than last year, despite the overall upward movement in the market and portfolio outperformance. Global markets were driven by persistent concerns of a slowdown in economic growth, while the UK's political uncertainty continued, the company noted.
Ciaran Mallon, investment manager, said: "Overall, while I am cautiously optimistic in my outlook for the UK market as a whole, I remain confident in the long-term return potential of the holdings in the portfolio."
"I continue to believe the portfolio is well positioned to meet its performance objectives, most notably in respect of delivering dividend growth, which has grown for the past 22 years consecutively," Mallon said.
Invesco Income shares closed 0.7% lower in London at 273.00 pence each on Tuesday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
Copyright 2019 Alliance News Limited. All Rights Reserved.