Investment trust Caledonia Investments said it had outperformed the FTSE in the last six months and was boosting its dividend.
The company boasted 3.8% net asset value (NAV) total return over the six months to the end of September, which it said was "satisfactory" in the current economic climate.
This performance was driven by the quoted, unquoted and property pools, which produced strong investment returns over the half-year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Its Asia group took a hit, down 9.1% over the period, driven by a fall in the share price of Dewan Housing Finance.
The figures amounted to a 1.9% total return outperformance of NAV against the FTSE All-Share over the six month period.
However, over the last 12 months the trust has under-performed that benchmark by 6.7%.
Caledonia announced a 10.3% increase in interim dividend, which it said reflected continued growth in income from its portfolio.
"We will continue to execute our strategic plan, evidenced by the disposal of non-core assets, a reduction in the number of core investments and a strong increase in the level of income flowing from the portfolio," the statement said.
"The underlying performance of our portfolio is satisfactory considering the difficult economic times."
-
Barclays begins paying up to £100 compensation to customers after banking outageBarclays will pay up to £7.5 million in compensation to customers after its banking services were disrupted by an IT outage
-
Review: Shangri-La Paris – an ode to the world’s best foodNatasha Langan enjoys fine French and Chinese cuisine at the Shangri-La Paris
