LONDON (Alliance News) - Golden Prospect Precious Metals Ltd was the standout winner among listed investments funds in June, according to research from QuotedData, as funds focused on UK investments lost out amid the volatility which followed the UK's vote to leave the European Union.
Golden Prospect's share price grew 42% in June, tracking the sharp rise in the gold price as investors fled to safe-haven assets. BlackRock World Mining Trust PLC also performed well, up 20%. Golden Prospect is listed on the London Stock Exchange's SETSqx market.
Funds with overseas exposure benefited from the fall in sterling precipitated by the Brexit vote, with Vietnam Infrastructure Ltd, JPMorgan Brazil Investment Trust PLC and Templeton Emerging Markets Investment Trust PLC all performing well, rising between 15% and 22%.
At the other end of the spectrum, funds focused mainly on UK investments, particularly on mid- and small-cap stocks and property, were hit hard by the result of the referendum. The worst performer was Candover Investments PLC, down 22%, while JPMorgan Mid-Cap Investment Trust PLC fell 19%.
Also among the worst performers were Strategic Equity Capital PLC, bruised by a profit warning from software investment Servelec Group PLC, and Woodford Patient Capital Trust PLC, which fell after pharmaceutical company Circassia Pharmaceuticals PLC plunged following news its key cat allergy medicine had failed to meet its primary endpoint in testing. Strategic Equity Capital ended the month down 17%, while Woodford Patient Capital was down 13%.
Oakley Capital Investments Ltd had benefited earlier in the month from the London flotation of publisher Time Out Group PLC, but its share price fell later in the month, leaving it among the worst performers, also down 13%.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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