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Brunner Investment Trust PLC - invests in companies globally for growth and reliable dividends - Net asset value with debt at fair value on May 31, the end of the company’s financial first half, is 1,425.2 pence per share, down 2.4% from 1,459.6p on November 30. Brunner pays a 12.5p dividend for the first half, up 5.9% from 11.8p a year before. NAV total return with debt at fair value is negative 1.5% for the half-year, though positive 13% over the 12 months from May 31, 2024. This compares to negative 0.1% and positive 14%, respectively, for the trust’s benchmark, a 30%-70% weighting of UK and ex-UK stock indices.
‘While this modest underperformance is disappointing, it is important to understand the context,’ comments Chair Carolan Dobson. ‘The portfolio’s underweight to the US - which had previously been a headwind - proved beneficial as US equities underperformed. However, sector-specific challenges, particularly in Healthcare, weighed on returns.’
Share price total return for the half is negative 3.9% as the discount widens.
Current stock price: 1,420.00p, up 0.6% in London on Wednesday
12-month change: up 3.7%
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