(Alliance News) - Mobius Investment Trust PLC on Thursday reported a full-year fall in net asset value in its first annual results since its IPO in October.
Net asset value at November 30 was 91.4 pence per share, 6.7% lower than the 98.0p at the trust's launch in October 2018.
Shares in the company were 0.4% lower at 94.20 pence each in London on Thursday afternoon.
During the period, its share price was on average, trading at a 0.9% discount to its net asset value.
The company proposed a dividend of 0.30p per share.
Mobius said: "In view of market volatility over the period, our Investment Manager has taken a cautious approach to investing the initial launch proceeds."
Just over 83% of proceeds raised in its GBP100 million IPO have been invested. Its largest investment is Brazilian healthcare firm Fleury SA.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
Mobius Investm. (MMIT)