Foreign & Colonial Net Asset Value Total Return Overperforms Benchmark

LONDON (Alliance News) - Foreign & Colonial Investment Trust PLC said Monday it outperfomed against its benchmark with half-year net asset value total return at 3.7%.

For the six months to June 30, the company posted net asset value total return of 3.7% against a FTSE All-World Index, the company's benchmark, total return of 2.1%.

Net asset value per share rose 9.4% to 695.35 pence from 635.47p year-on-year.

The company kept its interim dividend flat, on the comparative year ago period, at 2.7p per share, promising "another above-inflation rise" for the 2018 total dividend.

"Our current assessment is that, while risks and concerns over issues such as trade and the impact of rising interest rates abound, the fundamental backdrop remains broadly supportive for equity investment. Selectivity within our strategies will again be needed and it will remain important to adopt a diversified approach as risks rise," Charmian Simon Fraser said.

The company, which celebrated its 150th anniversary in March, is due to change its name to F&C Investment Trust PLC later in the year.

Shares in the investment trust were trading down 0.3% at 715.00p each.