Alliance Trust has published interim figures for the half year ended 30 June 2014. Alliance Trust underperformed slightly during this period – generating a total return on net assets of 0.3% and a return to shareholders of 0.4% compared to a return on the AIC Global sector of 1.6% on net assets and 3.0% on share price. The dividend has been increased by 3%.
The manager says that the market favoured value stocks during the period while their portfolio is more exposed to growth stocks.
The operating loss on Alliance Trust Investments reduced by 5% while assets under management grew by 2%.