Capital Gearing Trust returns rise 5.4% in H1 as weaker pound boosts growth
StockMarketWire.com - Capital Gearing Trust reported half-yearly net asset total return rose 5.4% as the portfolio benefited from weakness in sterling.
At the half year to 5 October 2019, the net asset value per share was 4,268p, compared with 4,082p as at 5 April 2019, and 3,968p on-year, representing a total return of 5.4% over the past six months and 7.2% over twelve.
The performance compared with a decrease of 1.8% in the MSCI UK Index over the past six months and an increase of 1.9% in the past year.
'Performance in the half-year benefited from a 6% weakening of sterling relative to the dollar. Some 46% of portfolio assets are currently held in non-sterling assets,' the company said.
At the half-year end, total net assets stood at £437m, up from £261m.
At 9:54am: (LON:CGT) Capital Gearing Trust Plc share price was +5p at 4320p
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