Edinburgh Investment trumps FTSE index
FTSE 250 Edinburgh Investment Trust, which invests primarily in UK securities, said net asset value (NAV) increased more than the FTSE All-Share Index.
FTSE 250 Edinburgh Investment Trust, which invests primarily in UK securities, said net asset value (NAV) increased more than the FTSE All-Share Index.
NAV with debt at market value rose by 3% on a total return basis compared with a 1.9% rise in the FTSE index.
Chairman Jim Pettigrew commented: "The ongoing difficult macroeconomic environment continued to present challenges for financial markets during the period. There have been no changes to the company's investment approach and its portfolio has delivered investment out-performance against benchmark in the 6 month period to September 30th 2012."
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 interim dividend of 5p will be paid on November 30th 2012, unchanged from last year.
Looking ahead Pettigrew added: "Economic growth in the western world remains anaemic at best. Furthermore, growth in China showed signs of further slowdown in quarter three.
"Although there has been a recent rally in European Bond markets following the President of the European Central Bank Mario Draghi's pledge to `do whatever it takes' to preserve the Euro, this in itself does not resolve the fundamental issues facing Europe."
Pettigrew said the company's investment strategy remains the same and as already highlighted, the concentrated nature of the portfolio may from time to time give rise to material short-term under-performance against benchmark.
However, the group believes its investment portfolio from a medium to longer term perspective, has been built with stocks which should be resilient in difficult times, whilst still providing potential upside in more positive market environments.
CJ
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.
-
Review: Eden Roc Cap Cana – fun, sun and golf in the Caribbean
Travel Eden Roc Cap Cana in the Dominican Republic offers everything from relaxing by the pool to a world-class golf course
-
Reeves delays cash ISA reform, but savers are not out of the woods yet
The chancellor has reportedly delayed plans to cut the cash ISA limit, which were set to be announced at Mansion House on 15 July, and will take more time to consult with the industry