LONDON (Alliance News) - RCM Technology Trust PLC Thursday said it outperformed its benchmark index over the course of its recent financial year.
Reporting final results for the year ended November 30, 2013, the trust said its net asset value per share increased by 47.2%, to 519.0 pence from 352.6 pence, significantly outperforming its benchmark index, the Dow Jones World Technology Index Sterling Adjusted Total Return, which rose by 20.5% in the year.
The trust, which targets long-term capital growth and is managed by Allianz Global Investors, said it was able to outperform because of its weighting towards mid-cap companies and good stock selection in the best performing sectors.
Chairman David Quysner said the new financial year has started well.
"We look forward to a further year of net asset value growth," Quysner said.
RCM Technology Trust shares were Thursday quoted at 571.00 pence, up 1.0%.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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