World Trust Fund has announced results for the year ended 31 March 2015 that show it outperforming the MSCI All Country World Index and the MSCI All Country World ex USA Index. Over the year the fund returned 24.2% on net assets and 25.4% on share price as compared to 11.2% for the ex USA index and 18.4% for the World index. The dividend is 3.4p. US is about 30% of the portfolio and 52% of the World index.
The largest positive contributors to performance were BB Biotech (which added 4.5% to the NAV), Citic Securities Class H (3.55), China Everbright (1.9%, International Biotechnology (1.8% and China merchants China Direct (1.3%).
On the downside, holdings in Eurazeo, JPMorgan European Smaller, Herald, Swiss Helvetia and BlackRock World Mining took a collective 3.2% off the NAV, 1.5% of which related to Eurazeo.
WTR : World Trust’s biotech and China holdings help outperformance