Advertisement

British Empire conquers benchmark

British Empire Securities and General Trust said its investments had outstripped its benchmark in the final quarter of 2012.

British Empire Securities and General Trust said its investments had outstripped its benchmark in the final quarter of 2012.

Over the three months the trust's net asset value rose by 7.9%, compared to an increase of 2.8% for its benchmark, the Morningstar Global Growth Index, resulting in an outperformance of 5.1%.

Advertisement - Article continues below

French multinational, Vivendi, the largest position in the portfolio, was a significant contributor to the performance over the period.

During the period the weighted average discount on the portfolio narrowed from 30.2% at the end of September 2012 to 25.9% at calendar year end.

The discount calculation is a measure of how much the share price of each stock in the portfolio is below the firm's estimate of its net asset value.

The narrowing was driven by a combination of factors including greater investor confidence and an increase in the level of corporate activity amongst portfolio companies, the trust said.

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

OBR: UK house prices could fall by 12% next year
House prices

OBR: UK house prices could fall by 12% next year

The Office for Budget Responsibility says UK house prices could fall by as much as 12% next year. John Stepek looks at how likely that is.
14 Jul 2020
Three ideas for Lloyds Bank's new boss
UK stockmarkets

Three ideas for Lloyds Bank's new boss

The Black Horse needs whipping into shape. A change at the top provides a great opportunity, says Matthew Lynn.
12 Jul 2020
We’re spending more than at any time since World War II – how will we pay it back?
UK Economy

We’re spending more than at any time since World War II – how will we pay it back?

With the UK spending vast sums on stimulus measures, this year’s budget deficit will be greater than at any time since World War II. The big question,…
14 Jul 2020