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Annual Results

Independent Investment Trust lags indices

20 January 2017 08:12

The Independent Investment Trust reports disappointing full-year results which put it at the bottom of the Association of Investment Companies' global sector of investment trusts.

The company produced a net asset value total return of 5.0% in the year to the end of November whereas theoretical investments in the FTSE All-Share Index and the FTSE World Index would have produced total returns of 9.8% and 25.6% respectively.

A widening of the discount - from 6.9% to 11.2% - led to a share price total return of 0%.

Chairman Douglas McDougall said: "This is clearly a disappointing result and one that leaves us bottom of the Association of Investment Companies' global sector of investment trusts for the year in terms of NAV total return.

"Fortunately, it follows a very good year and so we are still comfortably above median for the three and five year periods ending 30 November 2016."

At 8:12am: (LON:IIT) Independent Investment Trust Plc share price was +0.13p at 393.13p

Story provided by StockMarketWire.com

Related Company: IIT

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