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.

Microsoft HQ in France
Microsoft slipped from being the fund’s biggest holding to the fifth biggest
(Image credit: © GERARD JULIEN/AFP via Getty Images)

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

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up

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.

Explore More
Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni