Investment Trust Update | 27th July 2018

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  • 02 mins 42 secs
In this week's IT Update: Genesis tackles emerging market discount, a write down for Artemis Alpha, the tech sector reports results and forthcoming dividend payments.


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Hello and welcome to this investment trust news update with me mark in this bulletin genesis tackles emerging market discount a right down for artemus alfa the tech sector reports results on forthcoming dividend payments. First up artemus alfa, run by john dodd and kartik kumar has written down the value its investment in invoice financing company eureka which has been put into liquidation. This has produced a two point two percent reduction in the trust navy that's equivalent to three point eight million pounds over at genesis emerging markets. The board is planning a tender offer for up to ten percent of share capital. The discount on the trust is currently at twelve point five percent. Navy new miss sees this as a welcome development for the nine hundred forty three million pound trust, but it argues it needs to improve overall performance. The managers focus on valuation and quality has led to the portfolio being underweight china and stocks in recent years results next on all three trust in the technology sector been reporting of late polar capital technology run by ben rogoff. Produced in n a v total return of twenty two point, seven percent over the twelve months to the thirtieth of april performance was helped by its exposure to amazon and computer gaming stocks. Harold investment trust, run by katie pots, saw its navy rise nine point seven percent over the six months to the thirteenth of june. The share price did even better, up almost fifteen percent, but the shares themselves remain on a discount of around forty percent on the aliens. Technology trust has bought out its six months results up to the end of may. A navy rose eighteen point five percent on the share price, some seventeen point five percent. The vehicle, which is managed by walter price, now sits on a premium of around five percent n a v during the period, it issued some one, point seven million shares from treasury. On the further one point, three to five million new shares were created. A performance feat of three point four million pounds has accrued as a result of benchmark out performance and finally do keep an eye out for dividend payments from the likes of henderson high income brana, standard life, private equity on aberdeen, latin american income that's all for this time. Thank you for watching and goodbye.

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