LONDON (Alliance News) - Witan Investment Trust PLC on Wednesday said it outperformed its benchmark in 2014 and has hiked its dividend.
The FTSE 250-listed investment trust said its net asset value total return was 6.6% for the year, ahead of the 5.5% return produced by its equity benchmark. Its net asset value total return for the past five years is 70%, also ahead of its benchmark.
Witan said the performance came despite weaker market sentiment in 2014 against 2013, with a boost from its investment in Japanese equity markets and from the use of gearing.
The trust said the total dividend for year was increased 6.9% to 15.4 pence per share, up from 14.4p a year earlier.
Witan shares were up 0.7% to 761.40 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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