Personal Assets Trust update: keep faith in gold

Personal Assets Trust one of the components of the MoneyWeek investment trust portfolio, saw a rise in its premium relative to  net asset value. Saloni Sardana looks at how the trust is doing.

Gold bars and coins
Gold bars remained the trust’s biggest holding
(Image credit: © Chris Ratcliffe/Bloomberg via Getty Images)

Personal Assets Trust (LSE: PNL), one of the components of the MoneyWeek investment trust portfolio, saw a rise in its premium relative to net asset value (NAV, the value of the underlying portfolio).

As of 30 April, the trust recorded a premium of 2.2%, higher than March, when the premium was 1.8%.

The trust’s share price marginally fell from £504 to £503, and the NAV fell from £495.3 to £492.38.

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The trust underperformed its benchmark index, the FTSE All-Share index, returning 70.6% over a ten-year period, compared to 100.8% for the All-Share. But it did outperform the benchmark index on a five-year and three-year period, returning 32.4% and 27.9%, respectively compared to 26.6% and 14.1% for the FTSE All-Share Index.

The top ten holdings were unchanged in terms of company names, but some rankings differed

Gold bullion bars remained the trust’s biggest holding, representing 9.4% of the trust.

Tech giant Microsoft overtook Alphabet to become the second biggest holding, representing 5%.

Alphabet slipped from second place to third place, representing 4.7% of the trust.

Payments processor Visa remained the fourth largest holding, representing 4.1% of the trust.

Consumer giant Unilever moved up from seventh to fifth place, representing 3.2% of the trust.

Food and drink company Nestle remained the sixth largest holding in the trust, representing 3.1% of the trust.

Payments processor American Express, which was previously the fifth largest holding in March, slipped to seventh spot. The company represented 3% of the trust.

Multinational beverage drinks company Diageo was the fund’s eighth largest holding, representing 2.8% of the trust.

Franco Nevada, which was the trust’s eighth largest holding last month, took ninth spot, representing 2.7% of the trust.

Medical equipment provider Medtronic remained the tenth largest holding, representing 2.5% of the trust.

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