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Manchester & London Investment posts positive performance below benchmark
StockMarketWire.com
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Investment company Manchester & London Investment Trust reported a positive first-half performance that nevertheless missed its benchmark.
The company's net asset value total return per share in the six months through January rose 2.4%.
Over the same time period, the MSCI UK Investable Market Index rose 11.8%.
Manchester & London held its interim dividend steady at 7p per share.
'Key variables for our second half performance are likely to be the success of Covid-19 vaccine rollouts, movements in the US sovereign yield curve, the GBP/USD foreign exchange rates, whether there is any material shakeout in certain crowded trades (such as unprofitable technology stocks), and the regulation of yechnology companies globally,' the company said.
'Since this interim period end, the fund has reported a new all-time high net asset value per share hence our exciting journey continues through the era of software.'
Story provided by StockMarketWire.com
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