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08 Nov 2019 | 09:54

Capital Gearing Trust returns rise 5.4% in H1 as weaker pound boosts growth

Capital Gearing Trust reported half-yearly net asset total return rose 5.4% as the portfolio benefited from weakness in sterling. At the half year to 5 October 2019, the net asset value per share was 4,268p, compared with 4,082p as at 5 April 2019, and 3,968p on-year, representing a total return of 5.4% over the past six months and 7.2% over twelve. The performance compared with a decrease of 1.8% in the MSCI UK Index over the past six months and an increase of 1.9% in the past year. 'Performance in the half-year benefited from a 6% weakening of sterling relative to the dollar. Some 46% of portfolio assets are currently held in non-sterling assets,' the company said. At the half-year end, total net assets stood at £437m, up from £261m.

At 9:54am: (LON:CGT) Capital Gearing Trust Plc share price was +5p at 4320p

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