BMO Managed Portfolio Trust Outperforms Benchmark In First Half

LONDON (Alliance News) - BMO Managed Portfolio Trust PLC on Monday said it was ahead of its benchmark in the first half of its current financial year, despite a fall in net asset value.

The investment company reported a NAV total return for the six months to the end of November 2018 of negative 2.3%. In comparison, its benchmark, the FTSE All-Share Index, returned a negative 7.7%.

BMO Managed Portfolio Trust's NAV was 128.31 pence a share as at November 30, down 6.1% from 136.63p reported a year earlier.

Share price total return was negative 4.8% for the six months, with share price standing at 129.50p at the end of the period, representing a 0.9% premium to NAV.

The stock was trading 1.3% lower on Monday at 125.40p a share.

The company declared two interim dividends of 1.35 pence each, up 3.9% from 1.30p paid a year prior.

"Uncertainty characterises the outlook for global equity markets as we move into 2019," said Chair Colin McGill.

"So a more cautious investment strategy has been adopted."