FMPI has announced its interim results covering the six months ended 30 November 2013.
The net asset value returns for the period were 2.9% for the Income shares and 7% for the Growth shares. This compares to a 3.9% return on the FTSE All-Share Index and 3.1% on the FTSE Equity Investments Index. The Board say the growth portfolio benefited from its exposure to technology (through RCM Technology Trust : RTT, Herald : HRI and Polar Capital Technology : PCT) and UK mid and small cap. (through Schroder UK Mid Cap : SCP, Diverse Income Trust : DIVI and BlackRock Throgmorton Trust : THRG). Performance in the income portfolio was held back by falls in the value of Asian and Emerging Markets funds it holds.