City of London Investment Trust has said that during the quarter ended March 31st its portfolio remained biased towards non-cyclical and global companies.
Gearing increased from 9% at December 31st to 10.1% at March 31st. Purchases exceeded sales by £20.3m.
During the quarter net assets rose from £651.6m to £686.2m, while net asset value increased from 282.94p to 292.60p. The yield fell from 4.7% to 4.6%.
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
At March 31st the share price was trading at a premium of 2.7% to the net asset value, compared to 0.7% at December 31st.
A third interim dividend of 3.52p per share for the year ended June 30th has been proposed.
NR
-
Which UK region has the most in savings? Average savings by areaThe amount people have in their savings differs from region to region in the UK. How does your nest egg compare to those living nearby?
-
Doug and Mary Perkins: Specsavers’ clear-sighted foundersHelped by the deregulation of the sector in the 1980s and brilliant advertising, Mary Perkins and her husband Doug have taken Specsavers to the top of the optometry market
