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QuotedData’s morning briefing 2 June 2020

In QuotedData’s morning briefing 2 June 2020:

  • Witan has published an analysis of its performance in 2020. “In broad terms, our 12% underperformance has been due mainly to the underperformance of our underlying portfolio (9%), exacerbated by being geared into a market fall (2%), with an additional 1% being the cost of the early repayment of our 2025 6.125% Secured Bonds.” Recognising that the portfolio had too much exposure to the UK, the fund adopted a benchmark that reduced the emphasis on the UK equity market. However, the managers didn’t act swiftly enough to change the portfolio to reflect this. The trust was underweight the US and technology – the two areas that have led global indices in 2020. You can read the whole statement here. The statement follows on from yesterday’s news about the reallocation of the portfolio between managers.
  • BlackRock Energy and Resources Income Trust says that from 1 June its managers will begin transitioning the portfolio to reflect an increased focus on alternative and renewable energy sources. The rough target is 40% mining, 30% traditional energy and 30% sustainable energy.
  • UK Commercial Property REIT reported results for the year to the end of 2019 in which its net asset value fell by 3.7% to 89.8p per share. The results announcement was delayed due to the outbreak of covid-19. The company has since put out a NAV announcement for the quarter to the end of March 2020, in which the NAV fell to 86.3p.

We also have results from Perpetual Income & Growth and Warehouse REIT

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