Mid Wynd swings back to growth in first half but lags benchmark
Mid Wynd International Investment Trust PLC on Thursday reported that it had swung back to growth in its latest half year.
The investment firm, which measures itself against the MSCI All Country World Index, reported a net asset value per share growth of 3.8% in the six months ending in December. It had reported a 5.1% loss a year ago.
The result however trail behind the benchmark, which grew by 13.3% in the same six months, and by 7.2% a year prior.
Additionally, Mid Wynd said it reduced its discount to the net asset value from 2.5% to 1.2% in the first half, averaging 2.0%, as its share price rose by 5.2%. It also approved an interim dividend of 3.85 pence per share, equal to last year’s, which will be paid on March 27.
In its outlook, Chairman David Kidd said it is ‘optimistic that the coming year will bring a significant improvement in both absolute and relative performance’, as it is holding investments at ‘remarkably attractive valuations’.
Mid Wynd shares were up 0.8% at 746.00 pence each on Thursday afternoon in London.
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