Temple Bar Investment Trust : TMPL – interims

Over the first half of 2014 Temple Bar Investment Trust, managed by Alastair Mundy (pictured), generated a total return on net assets of 0.3% – slightly behind the return on the FTSE Al-Share Index of 1.6%. the interim dividend has been increased by 3% to 15.55p. The Board has announced that, with effect from January 2015, Temple Bar Investment Trust will switch to paying quarterly dividends.

The report says that the lag in performance can be accounted for in part by not holding the two pharmaceutical stocks that were the subject f bid activity during the period – AstraZeneca and Shire Pharmaceuticals. within the portfolio, the most important positive contributor to performance was Signet Jewelers. The fund’s holding in Grafton Group was a drag on returns. The manager switched some money from the telecoms sector to the oil & gas sector and also bought into the food retail sector.

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