Monks Investment Trust has been battered by the ill winds of the Eurozone crisis in the 12 months to the end of April.
The trust, which is managed by Baillie Gifford & Co in Edinburgh, saw its net asset value (including capital and income) drop 4.5%. The share price total return fell 6.2% compared to the company's benchmark FTSE World Index which came in 2.6% down on the prior year.
The company's largest stake is in IP Group, of which Monks is a 3% stakeholder. That stock did well during the year but a series of investments in gold miners were a major problem, as well as an investment in poor old Research In Motion.
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 total dividend for the year has been announced as 3.95p per share, up from the 3p seen in 2011.
Monks is now very cautious on the direction of markets, saying today that: "Notwithstanding the attraction of many individual investment opportunities, significant risks remain of a systemic nature."
Over the 12 months until the end of April Monks' share price dropped 7%, since then the stock has fallen a further 2.8%.
BS
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
