(Alliance News) - AVI Global Trust PLC on Friday said it outperformed its benchmark in financial 2020 but expressed caution on the pace of recovery from the Covid-19 pandemic.
Shares in the FTSE 250-listed trust were trading 0.7% lower at 790.47 pence each on Friday morning in London.
AVI Global said its net asset value total return in its financial year ended September 30 was flat, while its benchmark, the MSCI All Country World ex-US Index returned negative 1.8%. Net asset value per share at the end of September stood at 837.13p, down 1.8% from 852.61p a year prior.
A final dividend of 10.50p was proposed, taking the total annual payout to 16.5p, unchanged year-on-year.
Looking ahead, Chair Susan Noble said: "There remains a high level of unrealised value in the portfolio which provides grounds for optimism. On a more cautious note, while we always emphasise that our investment mandate is to seek total returns with no income target, the fact that many companies are reviewing or have already cut their dividends is a cause for concern and it is obvious that it will take the world some considerable time to recover from the effects of the measures taken to curb the spread of Covid-19."
By Ife Taiwo; ifetaiwo@alliancenews.com
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AVI Global Trust (AGT)