Edinburgh Worldwide Outperforms Interim Benchmark On Strong Portfolio

(Alliance News) - Edinburgh Worldwide Investment Trust PLC said Thursday it outperformed its ...

Alliance News 13 June, 2019 | 12:35PM
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(Alliance News) - Edinburgh Worldwide Investment Trust PLC said Thursday it outperformed its comparative index in the first half of its financial year, due to a positive performance from several investments.

The investment trust's net asset value total was 12.5% in the six months to the end of April, compared to the S&P Global Small Cap Index, which returns 5.7%.

Net asset value per share as at April 30 was 185.85 pence, up from 165.16p as at October 31.

The net asset value per share as at October 31 was restated to account for the five-to-one share split implemented near the end of January.

Edinburgh Worldwide's share price at the end of April was 191.30 pence, reflecting a 2.9% premium to net asset value.

Shares in the investment trust were up 1.1% on the day Thursday at 189.60 pence, having declined since the period-end.

Edinburgh Worldwide said it has been encouraged by developments within the larger holdings of its its portfolio.

These include a proposed joint venture between online grocery firm Ocado PLC and retailer Marks & Spencer PLC in February, strong 2018 trading from online furniture company Wayfair Inc, and a change in chief executive officer within US-based real estate database Zillow Group Inc.

As at April 30, Edinburgh Worldwide has increased its portfolio weighting in unlisted investments to 4.0%, from 3.2% the year before, through the acquisition of a holding in aerospace manufacturer SpaceX.

"The board and managers remain enthused by the range and type of companies held and believe that patient investors will be rewarded over the long term," the trust said.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Ocado Group PLC 1,137.50 GBX -1.90 -
Marks & Spencer Group PLC 218.70 GBX 1.25 -
Edinburgh Worldwide Ord 191.40 GBX 1.00
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