LONDON (Alliance News) - The World Trust Fund on Friday said it outperformed its benchmark, the MSCI All Countries World Index, in its recently-ended financial year.
The trust saw a total return on net asset value per share of 24.2% in the year to March 31, beating the MSCI All Countries World Index's 18.4%. Its share price total return was 25.4%.
Total net assets at year-end were GBP125.1 million, and net asset value per share stood at GBP3.1.
The World Trust Fund said its stock selection in both developed and emerging markets was strong, led by investments in China and in the global pharmaceutical and biotech and technology sectors, as well as in small-cap European companies.
The World Trust Fund will pay a final dividend of 2.9 pence.
"While geopolitical and macro uncertainties are the cause of some of the volatility and inefficiencies in today's market, we believe many to be counterbalanced by the attractive valuations in many markets. Also, discounts remain attractively wide, adding to our positive outlook over the long term. We remain especially focused on emerging markets, and we believe substantial shareholder value can be created in those markets for our investors over the long term," the trust said.
Shares in the World Trust Fund were untraded on Friday, last trading at 265.50 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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