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CT UK High Income Trust PLC said it could not keep up with the ‘buoyant market’ in interim trading, as it posted a rise in net asset value per share. The Edinburgh, Scotland-based investment trust reported a NAV total return per share of 8.7% for the six months that ended September 30, underperforming its benchmark, the FTSE All-Share Index, which returned 11.6% over the same period. NAV per ordinary share rose 5.4% to 106.56 pence from 101.12p at March 31. The trust noted it has declared three quarterly dividends of 1.37 pence so far with respect to the financial year that ends March 31 next year. It said the period saw a continued strong performance from equity markets around the world, noting a particularly strong performance from the FTSE All-Share which it said ‘even out-performed the US S&P 500’. CT UK High Income Trust said this demonstrates the strength of the UK market. While equities performed well, the trust said it ‘could not keep up with the buoyant market’. Its shares rose 1.4% to 112.03 pence on Friday morning in London. Looking ahead, the trust expressed confidence in the UK market, despite sentiment ‘remaining weak’, as it said the reality of the fundamentals is better than perceived. ‘While the job market is weakening, employment remains robust, real wages are still rising and while the pace may be slower than we would like, the Bank of England’s monetary policy committee is cutting rates and the cost of borrowing for housing is, importantly, falling. While we are building even fewer homes, we are aware that there has been a lot going on behind the scenes in making planning easier and removing obstacles,’ said Chair Andrew Watkins. ‘This type of supply-side reform takes longer to enact and to make a difference but should also have a longer-lasting impact.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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