Coronavirus Update

The Monks Investment Trust Plc - Half-Year Results

The Monks Investment Trust Plc 

Half-Year Results

Results for the six months to 31 October 2019

 

Over the six-month period, the Company produced a positive net asset value (NAV)* return of 1.6% compared to an increase of 4.6% for the FTSE World Index (in sterling), both in total return terms. The share price total return for the same period was 0.8%. The shares ended the period trading at a premium of 3.1% to the Company's NAV*.

  • The managers observe growing opportunities which are fuelled by increasing computing power, an explosion of data and improving global connectivity. This supports the portfolio's significant position in technology enabled platform businesses and is driving its growing exposure to healthcare companies;
  • The managers believe the freedom to invest in an eclectic mix of companies is valuable in maintaining a portfolio which can generate good returns across different economic environments. The managers are confident about the prospects for future growth and optimistic about the opportunities that lie ahead;
  • Earnings per share were 3.56p compared to 2.54p in the corresponding period. No interim dividend is to be paid.
  • Since the current team took over management of Monks on 27 March 2015, the NAV* total return has been +79.3%, the share price total return +111.0% and the comparative index total return +64.0%.

*With borrowings deducted at fair value.

Past performance is not a guide to future performance. Total return information is sourced from Baillie Gifford /Refinitive and relevant underlying index providers. 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 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 with over £208 billion under management and advice as at 2 December 2019.