City of London Investment Trust posts rise in gearing and NAV
City of London Investment Trust has said that during the quarter ended March 31st its portfolio remained biased towards non-cyclical and global companies.
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
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is driving car insurance premium hikes?
Claim costs rather than insurer profits that are pushing up car insurance premiums, the City watchdog finds
-
Beware inheritance tax gifting rules – 220 families left with shock bills after error
Families can give away assets during their lifetime to reduce inheritance tax liabilities, but failing to meet gifting rules could trigger unexpected inheritance tax bills