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Monks Investment Trust beats benchmark with bumper first-half performance
StockMarketWire.com
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Company investor Monks Investment Trust posted a positive first-half performance that beat its benchmark.
The company's net asset value total return for the six months through September was 26.8%, compared to a 10.2% rise on the FTSE World Index.
No interim dividend was declared, though Monks said a single final dividend would typically be paid after its annual general meeting, reflecting a focus on capital growth.
Chairman Karl Sternberg said the company retained a 'tried and tested investment approach' that centred on bottom-up stock picking and an ability to invest in growth companies anywhere in the world.
'Indeed, the manager undertakes regular thematic reviews of the Monks portfolio, the most recent of which highlights a proliferating and reassuringly diverse range of underlying exposures,' he said.
'This established approach has supported a calm and measured response to the developments of recent months and has allowed Monks to make modest changes to position itself for future growth.'
'Inherent in this is a desire to invest in companies run by management teams who are sensible stewards of capital and are capable of navigating and adapting to what the future brings.'
'This is what underpins our confidence about Monks' prospects for the future and optimism about the opportunities that lie ahead.'
Story provided by StockMarketWire.com
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