(Alliance News) - Baillie Gifford US Growth Trust PLC on Tuesday said it performed in line with its benchmark for the first half of its financial year, but marked an increase in net asset value over the six month period.
As at November 30, the investor in US companies said its net asset value per share was 346.99 pence, up 17% from 296.21p at the end of May. For the six month period, Baillie Gifford's NAV total return was 17.2%, in line with the S&P 500 index's return in sterling terms.
Over the six month period, the trust made six new investments in private companies, including communications platform Discord, blockchain services provider Blockstream and biotechnology firm Solugen Inc.
Baillie Gifford US had shareholders' funds of GBP1.07 billion at the end of November, an 18% increase from GBP908.9 million as at May 31.
"We are long-term. We are growth. We have a fundamental belief in the asymmetry of stock market returns. We look for opportunity in change. We, and you as our investors, are venturing. The path for companies driving structural change may not be straight; some paths will weave and wend and turn out to be dead ends. Other paths will branch new opportunities and take us in directions we might not be able to imagine currently. But our rucksack is laden with optimism, patience and excitement," the trust stated.
Shares in Baillie Gifford US Growth were up 5.4% at 224.48 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Baillie Gifford (USA)