Edinburgh Worldwide outstrips benchmark in Q1
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Edinburgh Worldwide Investment Trust, the Baillie Gifford-managed fund with around £195 billion under management, has posted results which show net assets value per share have risen 4.4 per cent, beating its benchmark following good performance in the underlying portfolio.
For six months to 30 April, the performance outstripped the S&P Global Smaller Companies index return of 0.5 per cent.
The Edinburgh-based fund said the positive performance was supported by strong results from holdings in its portfolio including online grocery group Ocado, food-ordering platform GrubHub, and cancer drug company Nucana.
The share price over the six months rose by 13.5 per cent to 784.0p representing a premium of 4.5 per cent, compared to a discount of 3.9 per cent at the beginning of the period.
The fund delivered a net loss of 0.46p per share compared to a gain of 0.27p following a one-off refund of French withholding tax and associated interest. Post period, Unity Biotechnology was listed on Nasdaq and a new holding was taken in Akili Interactive Labs, the company said.
Edinburgh Worldwide aims to achieve long term capital growth by investing primarily in listed companies throughout the world.
The Company has total assets of £426.7 million (before deduction of loans of £34.3 million) as at 30 April 2018.
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