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Baillie Gifford US Growth Trust PLC - US-focused investment trust - Posts net asset value return of 44.2% for financial year ended May 31 compared to 15.0% S&P 500 index return in sterling terms as most holdings benefit from disrupted demand patterns during pandemic. As at May 31, NAV per share 181.92 pence, up from 126.17p per share year before. Net revenue return per share negative 1.05p per share versus 1.09p year prior. Recommends no final dividend as revenue account still running at a deficit.
Chair Tom Burnet says: "At the time of writing, it seems probable that we are at the dawn of a significant global recession and ongoing market volatility is to be expected. In that context, it is comforting to note that as long-term investors in exceptional growth companies, many of the organisations in which we are invested have thrived during the period. As the digital transformation that has been accelerated by the Covid-19 pandemic continues, the portfolio should be well positioned to benefit in the long term. All that being the case, the board and the Managers remain confident in our outlook."
Current stock price: 258.08p
Year-to-date change: up 84%
By Anna Farley; annafarley@alliancenews.com
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