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EP Global Opportunities Trust PLC - Edinburgh-headquartered company invests globally, predominantly in quoted equities - On Monday, reports net asset value per share grew 3.1% over 2021, to 317.9 pence at December 31 from 308.4p a year before. Following the reinvestment of dividends, net asset value total return was 5.1% for the year, from a total loss of 1.3% the prior year. Shares were at a 8.5% premium to net asset value in 2021, compared to a 7.9% premium the prior year. Proposes final dividend of 5.0p, down 17% from 6.0p in 2020.
Looking to 2022, EP is concerned the war in Ukraine may compromise economic recovery from Covid and expose valuations, and maintains a cautious approach.
‘The portfolio continues to be defensively positioned with over one-third of the companys assets invested in cash and fixed income securities at the year-end, similar to the position at the half-year end. While this suppressed returns in 2021, the defensive stance has had a beneficial impact in the early part of 2022. The investment manager will reduce cash balances when investment opportunities arise,’ says Chair Cahal Dowds.
It continues its transition to become a self-managed investment trust, as announced in October.
Current stock price: 289.21 pence, up 1.1% on Wednesday
12-month change: down 0.3%
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