The investment firm Alliance Trust has grown its net asset value (NAV) in the first six months of the year despite headwinds from a UK recession and the Eurozone debt crisis.
NAV per share in the six months to the end of June rose 5.5% to 432.2p, beating the group's benchmark global growth sector index, which returned 5.3%
Against similar investment trusts (known as the global growth peer group) Alliance came 13th out of 33.
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
The group has also announced it will pay £1m to take Aviva Investors 'sustainable and responsible investment' (SRI) fund in house. A team of five Aviva staff will move into Alliance's offices, bringing with them £1.2bn in funds.
Katherine Garrett-Cox, Chief Executive of Alliance, said the deal with Aviva was "significant" and added, pointedly, that her group's NAV "continues to outperform the Global Growth sector".
The shares were down 0.4% by 8:07.
BS
