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LONDON (Alliance News) - Jupiter Green Investment Trust PLC Thursday said it underperformed its benchmark the MSCI World Small Cap Index for the half year to end-September, seeing a negative total return of 11.2%.
This compared to a 10.9% negative total return from the MSCI World Small Cap Index.
Without dividends reinvested, the trust said, it saw a negative total return of 10.8% compared to a 10.9% negative total return from the benchmark.
The trust cited a "key impediment" during the half year as a poor performance from its US organic food holdings, hit by increased competition in the market and a weaker performance from Industrial recycling business Horsehead due to further delays to the start date of a new production facility. It sold out of its holding in this company after the end of the period.
Positives included a successful takeover bid for Latchways, solid progress at Cranswick, and a number of waste and recycling holdings making "solid contributions" to performance.
Shares in Jupiter Green closed down 0.7% at 134.00 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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