Mid Wynd International investment trust update: premium to net asset value falls

The Mid Wynd International investment trust saw a big fall in its premium relative to its net asset value in May, with a fall in the share price, too. Saloni Sardana looks at the trust's latest performance.

Mid Wynd International investment trust (LSE: MWY) saw a big fall in its premium relative to its net asset value (NAV, the value of the underlying portfolio) as the trust’s share price also fell in May. 

As of 30 May,  the trust’s net asset value fell from 745p to 736p while its share price fell from 770p to 747p. But that still represented a premium of 1.4% over its NAV. 

Mid Wynd, whose aim is to buy quality stocks worldwide, beat its benchmark index, the MSCI World Index, with a rise in the trust’s share price of 47.5% over three years compared to 39.4% for the benchmark. 

It also slightly outperformed its benchmark on a one year basis with a rise of 4.4% compared to 4.3% for the MSCI World Index. 

Last month, tech giants Alphabet and Microsoft were the top two holdings, at 3% and 2.8% of the fund respectively. Microsoft now represents 25.5% and Alphabet is no longer in the top 30 holdings.

Thermo Fisher Scientific, a supplier of American scientific instrumentation, and Anthem, a US provider of healthcare are now the fund’s two top holdings, each occupying 2.8% of the fund. 

Healthcare giant Pfizer came in third spot, occupying 2.7% of the fund. Union Pacific, a US rail holding company, is the fourth largest holding, occupying 2.6% of the fund. 

Singaporean conglomerate SingTel was the trust’s sixth largest holding, representing 2.4% of the fund. 

Payments processor MasterCard, which was not one of the top ten holdings in the previous month, made it to seventh place, representing 2.3% of the fund. 

In eighth place was transport company Norfolk Southern,at 2.3%; while joint ninth were luxury goods maker LVMH and Tech company IBM, each at 2.2%.

As of 30 May, IT accounted for almost a quarter of the fund, health care accounted for 17.4%, while industrials represented 10.7% of the fund.

Recommended

Bank bailouts are bullish for bitcoin and gold
Investments

Bank bailouts are bullish for bitcoin and gold

The collapse of Silicon Valley Bank and Credit Suisse has shaken investor confidence in the global financial system. Dominic Frisby explains what this…
22 Mar 2023
What is happening to house prices?
Personal finance

What is happening to house prices?

House prices may have been slowing down, but asking prices are on the rise. We look at the latest on what is happening to house prices as ONS releases…
22 Mar 2023
UK inflation jumps to 10.4% in February
Inflation

UK inflation jumps to 10.4% in February

The rate of inflation increased in February following two months of falls, increasing pressure on households and the Bank of England ahead of its inte…
22 Mar 2023
What happened to Credit Suisse?
Economy

What happened to Credit Suisse?

UBS acquired Credit Suisse at £2.65bn on Sunday afternoon – significantly below its closing value on Friday, which was around £7bn. We take a look at …
21 Mar 2023

Most Popular

Rightmove: UK house prices up £3,000 as property market rebounds
House prices

Rightmove: UK house prices up £3,000 as property market rebounds

Rightmove’s latest house price index shows the property market has been resilient despite an economic downturn
20 Mar 2023
Can I avoid IHT by stuffing all my money into a pension?
Personal finance

Can I avoid IHT by stuffing all my money into a pension?

The ditching of the lifetime allowance could enable millions of pension savers to avoid inheritance tax. We explain how.
20 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023