Capital Gearing Trust : CGT – annual results

Capital Gearing Trust, chaired by Tony Pattison (pictured), has released its annual results. These cover the year ended 5 April 2014. Over this time Capital Gearing Trust’s net asset value fell by 2.5%. This was the first time in more than thirty years that the fund’s net asset value had fallen over an accounting year. The reason for the fall, says the company, is the decline in bond prices – both conventional and index-linked and the strength of Sterling which depressed the value of overseas assets. The dividend is being held at 16.0p.

The premium was little changed year on year at 7% compared with 7.1% in April 2013.

Shareholders will be given the chance to sell their shares at a price close to net asset value in 2015.

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