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.
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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.
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