IN BRIEF: Bankers Investment underperforms benchmark in first half

Writer,

Bankers Investment Trust PLC - aims for capital growth in excess of the FTSE World Index and annual dividend growth ahead of inflation - Net asset value per share ends April 30 at 113.0 pence, sliding from 114.3p at the same point the year prior. Total dividend rises to 1.13p from 1.08p.

Total NAV return in the first half negative 5.6%, while the FTSE All-Share Index returns negative 2.6%.

‘Overall, the portfolio has lagged the FTSE World Index by 3% which is largely attributable to a lower exposure to the US market and the poor performance of the China portfolio. There has also been underperformance in the US and European portfolios that has impacted the return, as both of these portfolios have a significantly higher weight to growth stocks which have derated in current market conditions,’ Fund Manager Alex Crooke says.

Looking ahead, he adds: ‘Stock markets will remain volatile until there is a clear downward direction in inflationary pressures and investors can gain confidence in stock valuations.’

Current stock price: 99.50 pence, up 2.8% on Friday

12-month change: down 14%

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