Middlefield Canadian has reported interim results for the first six months of 2015. The return was well ahead of its benchmark, recording outperformance of 6.3% in Canadian dollar terms – In Canadian dollars, the Company’s net asset value is up 4.4% for the six month period ending 30 June, well ahead of the S&P/TSX Composite High Dividend Index, which is down approximately 2.7% over the same period. However Sterling has been strong, the Canadian dollar has fallen by nearly 8% against Sterling this year, which detracted from the performance of the Fund. In Sterling, the Middlefield Canadian posted a net asset value total return of -3.95% for the six months ended
June 30, 2015. The Fund paid quarterly dividends of 1.25 pence per share in each of January, April and July 2015.
There is no performance attribution information in the statement.
MCT : Middlefield Canadian interims ahead of benchmark but hit by currency