Threadneedle UK Select Trust’s net asset value total return was 5.7% for 2015, which compares favourably with the 1.0% total return from the FTSE All-Share Index, the benchmark against which the investment manager’s performance is measured. During the year under review, the share price decreased by 2.9% from 171.5p to 166.5p and the discount at which the shares trade, relative to their net asset value, was 12.1% at the end of the year compared with 6.5% at the start of the year.
A first interim dividend of 1.90p per share in respect of the financial year 2015 was declared on 13 August 2015 and on 3 March 2016 a second interim dividend of 2.55p per share was declared.
Apparently outperformance was driven by both sector allocation and stock selection, with selection in the financials and oil & gas sectors proving particularly favourable.
UKT : Widening discount lets down Threadneedle UK Select