(Alliance News) - BB Healthcare Trust PLC on Friday reported a net asset value rise in 2019, but was "modestly" outperformed by its benchmark index.
Net asset value per share at November 30 was 143.11 pence, a 3.2% rise from 138.72p the year prior.
Shares in the healthcare sector investment company were trading marginally lower at 157.97p in London on Friday morning,
Its net asset value total return in 2019 came in at 6.6%, beaten by the MSCI World Healthcare Index return of 8.6%.
"Indeed, whilst we are disappointed with this outcome, we agree that it should be judged in the context of the December 2018 sell-off and subsequent challenging macro-political environment that unfolded over the remainder of the current financial year. From a personal perspective, financial year 2019 was undoubtedly the most challenging year we have traversed, in terms of understanding and predicting investor sentiment," the healthcare investor said.
Its full-year dividend per share was 21% higher at 4.850p, from 4.0p. For 2020, the company is targeting a total payout of 5.0p per share.
BB Healthcare added: "The newspaper headlines are filled with coverage of the coronavirus (2019-nCoV). Even a couple of months ago it would have been hard to predict such an outbreak was imminent. Secondly, and tragically, it also reminds us of the ever-pressing need for healthcare and thirdly that healthcare has to continuously evolve to face new challenges.
"Historically the fourth year of a US presidential cycle has brought a lot of attention to bear on healthcare. However, in this cycle, 2019 seems to have generated focus on healthcare in the US. The results of these swings in attention is that valuations can move faster than the actual economic outlook of companies change. This can provide both opportunity and frustration."
By Eric Cunha; ericcunha@alliancenews.com
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