Invesco Perpetual Select Trust Net Asset Value Edges Up In First Half

LONDON (Alliance News) - Invesco Perpetual Select Trust PLC on Friday reported interim results for the six months ended November 30.

The trust's share capital comprises four share classes: UK Equity Shares, Global Equity Income Shares, Balanced Risk Shares and Managed Liquidity Shares, each of which has its own separate portfolio of assets and attributable liabilities.

In net asset value terms, with dividends reinvested, the UK Equity Portfolio returned 0.2% over the six months to the end of November 2015 compared with its benchmark, the FTSE All-Share Index's total return of negative 6.4%. The share price total return was 0.5%.

The Global Equity Income Portfolio returned negative 2.6% in NAV terms, compared with its benchmark, the MSCI World Index's total return over the period of negative 2.7%. The share price total return was negative 2.1%.

The Balanced Risk Portfolio returned negative 5.8% in NAV terms compared with its benchmark of three-month LIBOR plus 5% per annum, which had a total return of 2.8%. The share price total return was negative 3.9%.

The trust's Managed Liquidity Shares, whose objective is derived from cash returns, returned negative 0.1% based on the NAV and 0.6% based on the share price.

"One trend that seems likely to continue in the UK is the growth of unadvised investing. This has produced a welcome flow of investors into our equity classes which has enabled the company easily to sustain its discount control policy while issuing shares and also seeing some sales by the original investors," Chairman Patrick Gifford said.

"As share prices rise over time we further believe that the company's structure, which enables shareholders to switch between share classes on a quarterly basis without cost or crystallising capital gains tax, is an attractive feature for private investors," Gifford said.

Shares in the trust were up 1.0% to 152.00p.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2016 Alliance News Limited. All Rights Reserved.