In QuotedData’s other news 30 May 2019:
- Perpetual Income and Growth delivered an NAV total return of -0.8% over the year-ending 31 March 2019 (the benchmark All-share index’s total return for the year was +6.4%). The main source of underperformance relative to the benchmark came from the fund’s exposure to UK domestic stocks; companies that generate most of their income internationally drove the market return.
- TR Property Investment Trust reported NAV and share price total returns of 9.1% and 6.2% (to 31 March 2019), ahead of benchmark total returns of 5.6%. The company invests across several property segments in the UK and wider Europe. Exposure to Europe has helped to offset some of the weakness in segments of UK property, particularly retail.
- Schroder Income Growth reports NAV total returns of -4.2% in the half-year period to 28 February 2019. The share price showed a total return of -6.8%, as the discount widened from 4.6% at the start of the period to 7.4% at its close. One positive feature of the results period was a 26.9% rise in revenue return compared to the first half of the 2018 fiscal year. This reflects an increase of 20.3% in investment income during the period, attributable to the timing of dividend receipts and the trust’s manager continuing to target rising income, as well as the effect of a lower management fee.
- Another Schroeder fund, Schroder Oriental Income, also reported half-year results (to 28 February 2019) this morning. NAV total return were -1.5%, against a volatile period for regional markets. During the same period, the share price produced a total return of 1.4% as the discount narrowed from 1.2% at the start of the period to a premium of 1.8% at its close.
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