Temple Bar says value style still holding it back – Over the course of 2017, the total return on the net assets of Temple Bar was 9.7%, underperforming the total return of the All Share Index of 13.1%. Three interim dividends of 8.33p and a final dividend payment of 17.48p per share give an increase in the total dividend payment for the year as a whole of 5.0%.
The underperformance is attributed to “the protracted timescale in which the Value investing style has been out of favour relative to other styles.” The chairman stresses the long-term performance of the fund has been good – which is true. Temple Bar still ranks second within its peer group over 10 years despite being fourth quartile over one year.
Apparently there was no room for a report from the manager within the statement. Investors will have to wait for the annual report – last year this was published on 1 March. It should be available in the documents tab of Temple Bar’s page on our website soon after.
About Temple Bar
Temple Bar’s investment objective to provide growth in income and capital to achieve a long term total return greater than the benchmark FTSE All-Share Index through investment primarily in UK securities. The Company’s policy is to invest in a broad spread of securities with typically the majority of the portfolio selected from the constituents of the FTSE 350 Index.
TMPL : Temple Bar says value style still holding it back