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Brunner Investment Trust PLC on Tuesday reported that its net asset value per share increased in its half year, and it outperformed its benchmark. Brunner Investment, a trust managed by Allianz Global Investors that seeks growth in capital and dividends from companies globally, said its NAV per share on May 31 was up 0.2% at 1,166.4.0 pence, up from 1,164.4p on November 30. NAV total return per share increased by 1.1%, compared to negative 0.5% the year before. Brunner surpassed its benchmark, the 70% FTSE World Index Ex UK and 30% FTSE All-Share Index, which increased by 0.3%. Brunner swung to a pretax profit of £7.7 million, from a loss of £1.0 million the year before. Total net assets increased 2.0% to £498.0 million on May 31, up from £488.0 million the year before. Investment income in its first half ended May 31 was up 18% at £8.7 million from £7.4 million the year before. Gain on investments in the six months was held at fair value £409,000, up from £14.5m loss at the same point the year prior. Brunner declared an interim dividend of 11.1p, up 7.8% from 10.3p the year before. Chair Carolan Dobson said: ‘Brunner will continue into the future with an ongoing focus on prudent management, aware of the macro-economic outlook and its potential impact on companies, but ultimately simply ploughing on with the business of crafting a portfolio of a selection of the world’s best companies, where we are able to purchase them for shareholders at reasonable valuations. ‘We firmly believe this is the best approach to create long-term wealth generation for our shareholders, whilst sparing them the rollercoaster ride of chasing the in-vogue investment style.’ Shares in Brunner Investment were up 1.6% at 1,056.24 pence each in London on Tuesday. Copyright 2023 Alliance News Ltd. All Rights Reserved
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