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Mid Wynd International : MWY – half year figures

Over the six months ended 31 December 2013 Mid Wynd returned almost twice as much as its benchmark as the net asset value total return was 12.5% and the FTSE World Index total return was 6.6%. The company says that it benefited as money moved from bond investments to equities during the period. Investments that it believes have innovative and disruptive business models have done well – it cites ASOS, the on-line clothing retailer, Priceline, the on-line travel agency, Xero, on-line accounting software and IP Group which has spun out a number of interesting businesses. Disappointments came from companies exposed to domestic emerging market consumption.

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