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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.
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
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