Has five-year plan paid off for £3bn Alliance Trust?

The £3.2bn Alliance Trust has reported its results for the first half of the year, pointing to the success of its five-year overhaul plan as it wins its first segregated mandate during H1.

The trust delivered a net asset value (NAV) total return of 12.5% over the reporting period, with NAV per share of 495.6p, according to the group. The share price at 30 June was 427.4p, a total return of 15.2%, compared to the AIC Global Growth sector which posted a NAV total return of 11.1% and share price return of 11.4%. As at 24 July, the trust was trading on a 12.57% discount to NAV, according to FE. The board expects the ordinary dividend for the year will rise by at least 3% to 9.548p per share. This will be the 47th consecutive annual increase. Meanwhile, Alliance Trust...