Mid Wynd International reports that its net asset value total return for the second half of 2015 was 5.1 per cent, compared to the total return of 1.5 per cent produced by the MSCI All Country World Index. They have declared an interim dividend of 1.65 pence per share (2015: 1.35 pence per share).
Demand for their shares has been strong. they expanded the fund by £6m as they reissued their Treasury shares and have issued £1.6m worth of new shares since the period end. Mid Wynd has also been selected as the rollover option for the reconstruction and winding up of Drumeldrie Investments Limited, a private investment company. This will result in approximately £4.1m of assets being transferred to the Company in exchange for the issue of new shares. It is expected to be carried out in four equal instalments, the first of which was completed on 22 December 2015. This exchange was done at the Company’s prevailing net asset value and resulted in the issue of 311,630 new shares. As all of the Company’s costs in respect of its participation in the transaction are being paid by Drumeldrie there will be no dilution of existing shareholders’ interests.
The five largest contributors to performance were: Amazon.com +1.0%; Alphabet +0.7%; Adidas +0.6%; Facebook +0.5%; Hypermarcas +0.5%; and detractors: Time Warner (0.4%); Spectra Energy (0.4%); China Merchants Holdings (International) (0.3%); Grupo Televisa (0.3%); Rakuten (0.2%).
MWY : Mid Wynd International gets £4m rollover