Worldwide Healthcare Trust Outperforms Benchmark In First Half

LONDON (Alliance News) - Worldwide Healthcare Trust PLC Friday said it outperformed its benchmark ...

Alliance News 25 November, 2016 | 2:33PM
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LONDON (Alliance News) - Worldwide Healthcare Trust PLC Friday said it outperformed its benchmark in the first half of its financial year ended September 30 following a period in which it said market volatility was less prevalent.

The trust said its net asset value per share rose 20% in the six months ended September to 2,228.30 pence from 1,850.90p at the end of March. Net asset value total return in the six month period was 21%, ahead of the 17% reported by its benchmark index, the MSCI World Health Care Index.

Worldwide Healthcare said the strong performance was, in part, due to the sharp fall in sterling against the dollar following the outcome of the EU referendum in the UK held in June.

"Both our portfolio and the company's benchmark have a high exposure to companies denominated in dollars," the trust said.

Worldwide Healthcare declared an interim dividend of 6.50p per share, unchanged from the prior year.

The trust said, with the US presidential election over and the Republican party in control of both the White House and legislature, investors can begin to concentrate on the healthcare sector's strong fundamentals.

Chairman Martin Smith pointed in particular to innovation, which continues to be "a key driver across the sector".

Shares in Worldwide Healthcare were up 1.1% at 2,108.86p on Friday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Worldwide Healthcare Ord 2,780.00 GBX 0.18
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