The Monks Investment Trust PLC
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Results for the year to 30 April 2022 |
Over the year to 30 April 2022, the Company's net asset value (NAV) total return * was -18.9% compared to a total return of +6.1% for the FTSE World Index (in sterling terms). The share price total return for the same period was -24.6%.
- Against a backdrop of rising uncertainty, the past 12 months have been disappointing in share price terms for Monks. In the main, the companies in the portfolio continue to perform well operationally and are financially robust. The Managers believe the portfolio holdings are well placed to navigate a period of rising inflation and remain resolutely reward seeking in their approach.
- Portfolio turnover for the 12 months was 11% and the Company's invested gearing stood at 7.3% at the financial year end.
- A single final dividend of 2.35p is being recommended, compared to 2.0p last year.
- Over the period, 8,808,550 shares were bought back at a discount to NAV, being 3.7% of the Company's share capital, at a cost of £98 million. The share price ended the year at a 4.4% discount to NAV*.
- Ongoing charges for the year to 30 April 2022 were 0.40%, down from 0.43% in the prior year.
- Since the change in approach in March 2015 the NAV total return at fair value has been 147.8% and the share price total return 163.6% against the comparative index at 128.9%#.
* With borrowings at fair value
# Total returns from 31 March 2015 to 30 April 2022.
Past performance is not a guide to future performance. Total return information is sourced from Baillie Gifford/ Refinitiv. See disclaimer at the end of this announcement. For a definition of terms see Glossary of Terms and Alternative Performance Measures at the end of this announcement.
The Monks Investment Trust PLC aims to deliver above average long-term returns for shareholders by keeping fees and costs low and harnessing the long-term growth potential of companies. Monks invests globally in order to achieve capital growth. This takes priority over income and dividends. Monks is managed by Baillie Gifford, an independent fund management group, which has around £230 billion under management and advice.
Monks is a listed UK company. The value of its shares and any income from them can fall as well as rise and investors may not get back the amount invested. The Company is listed on the London Stock Exchange and is not authorised or regulated by the Financial Conduct Authority. You can find up to date performance information about Monks at monksinvestmenttrust.com ‡ . Past performance is not a guide to future performance. See disclaimer at the end of this announcement.
‡ Neither the contents of the Managers' website nor the contents of any website accessible from hyperlinks on the Managers' website (or any other website) is incorporated into, or forms part of, this announcement.
21 June 2022