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Capital Gearing Trust net asset value is up 5.3%

Capital Gearing Trust net asset value is up 5.3%

Capital Gearing Trust net asset value is up 5.3% – Capital Gearing Trust (CGT) is up 5.3% since its year end and is up 2.8% since this time last year. The performance since year end on 5 April 2018 is being driven by a weakening sterling compared to the dollar. Around 47% of the portfolio assets are currently held in non-sterling assets.  Capital Gearing Trust’s issued share capital has increased by 14% since year end and it has increased by 31% since this time last  year. The widening of the equity base and expanded share holders list is good for the company in these uncertain times, because it shows that certain investors like the capital preservation that the company emphasises. It also helps to lower running costs for the fund as fixed costs are spread over a wider base.

The chairman had this to say about the future of the markets, “Currently, both equity and bond markets around the world are undergoing what appears to be a marked correction. After a prolonged bull phase in most risk assets, there is a possibility that market weakness could persist. Against this background, the core objectives of the company remain intact and relevant – to preserve shareholders’ real wealth and to achieve absolute total return over the medium to longer term and we work hard to position the company and its portfolio in those directions.”

CGT-Capital Gearing Trust net asset value is up 5.3%

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