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.
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
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.
-
Protect what matters with bespoke insuranceYour life is unique, so is standard home insurance really designed to meet your needs? NFU Mutual’s Bespoke Home Insurance is designed to be tailored to your unique circumstances.
-
The 30 house price hotspots
While we have seen house prices sliding, these sought-after locations have seen prices jump by at least 5% over the previous 12 months
-
Halifax: House price slump continues as prices slide for the sixth consecutive month
UK house prices fell again in September as buyers returned, but the slowdown was not as fast as anticipated, latest Halifax data shows. Where are house prices falling the most?
-
Rents hit a record high - but is the opportunity for buy-to-let investors still strong?
UK rent prices have hit a record high with the average hitting over £1,200 a month says Rightmove. Are there still opportunities in buy-to-let?
-
Pension savers turn to gold investments
Investors are racing to buy gold to protect their pensions from a stock market correction and high inflation, experts say
-
Where to find the best returns from student accommodation
Student accommodation can be a lucrative investment if you know where to look.
-
Best investing apps
We round up the best investing apps. Looking for an easy-to-use app to help you start investing, keep track of your portfolio or make trades on the go?
-
The top funds to invest in - November 2023
Tips Investors are focused on income strategies and FTSE heavyweights. We look at what investors have been adding to their portfolios in the last month
-
The world’s best bargain stocks
Searching for bargain stocks with Alec Cutler of the Orbis Global Balanced Fund, who tells Andrew Van Sickle which sectors are being overlooked.
-
Revealed: the cheapest cities to own a home in Britain
New research reveals the cheapest cities to own a home, taking account of mortgage payments, utility bills and council tax
