Alliance Trust posts solid first-half performance

25th Jul 2024 09:49

(Sharecast News) - Alliance Trust announced a solid investment performance for the first half of 2024 on Thursday, with increases in both its share price and net asset value (NAV).

The FTSE 250 company said that as of 30 June, the company's share price reached 1,212p, a 9% rise from 1,112p at the end of December.

It said its net asset value per share grew 8.4% to 1,273.9p from 1,175.1p over the same period.

The trust reported a net asset value total return of 9.5% and a share price total return of 10.2%, compared to the MSCI All Country World Index (ACWI) return of 12.2%.

Its discount to the net asset value at the end of the period narrowed slightly to -4.9% from -5.4% at the end of December, remaining considerably tighter than the average discount in the Association of Investment Companies' Global Sector.

Alliance Trust declared a second interim dividend of 6.62p, bringing the total for the first two interim dividends of 2024 to 13.24p, a 5.8% increase compared to 12.52p in the same period of 2023.

Additionally, the proposed combination with Witan Investment Trust was set for shareholder approval.

"It has been an eventful period," said chair Dean Buckley.

"Returns have been strong, and we have announced the company's intention to combine with Witan Investment Trust to create Alliance Witan."

At 0952 BST, shares in Alliance Trust were down 0.37% at 1,191.57p.

Reporting by Josh White for Sharecast.com.