Investment trust, British Assets Trust, has seen its net asset value (NAV) rise broadly in line with its benchmarks as equities recovered in the first three months of 2012.
The NAV total return for the six months to the end of March was 15.9% against the benchmark return of 15.5%. Over the same period the share price gained 14.4% and the dividend yield was 4.8%.
The NAV was 0.5% ahead of the share price by the end of the period, at £386,439,000.
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The company believes that, given the austerity measures being adopted by the UK and the difficulties in the Eurozone "in the near term, economic growth is likely to be stronger in the US than elsewhere in the developed world. In emerging markets, and in China in particular, signs of monetary easing as inflation fears subside should enable a 'soft landing'. The [investment] managers therefore continue to favour overseas equity markets."
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