Throgmorton Trust Share News (THRG)

LONDON (Alliance News) - BlackRock Throgmorton Trust PLC on Monday said its net asset value return outperformed its benchmark in the first half.

The smaller companies-focused investment trust said it delivered a net asset value per share return of 1.9% in the half to the end of March, compared to a 1.7% return for the Numis Smaller

Companies excluding AIM (excluding Investment Companies) Index, its benchmark.

BlackRock Throgmorton said it saw significant volatility in markets during the half, first from concerns about a slowdown in China, then around the sustainability of US economic growth and latterly from damped investor confidence ahead of the UK's referendum on European Union membership.

Following the UK's vote to leave the EU, the trust said markets have been volatile but said its portfolio managers have sought to position the fund in companies generating revenue which should prove resilient to the challenges thrown up by Brexit.

The fund declared an interim dividend of 1.25 pence, up 14% from the 1.10p paid a year prior.

Shares in the trust were up 0.8% to 295.55p Monday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

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