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%.
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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
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