Alliance trust suffered a 11.3% portfolio loss over the first six months of 2022, as its growth stockpickers lagged despite a return boost from its commodities exposure.
The global multi-manager trust delivered a net asset value return of -10.5%, marginally ahead of its benchmark, the MSCI All-Country World index, which returned -11%. However, as the discount widened to an average of 6.3%, up from the 5.9% average of the same period last year, the trust's shareholders were left with a -11.3% return. The trust fared better than its rival global investment trusts, which lost 18.6% on average. Alliance reported a portfolio turnover of 32.7% over the period, significantly higher than its target of 10% to 15% per year. This was due to the termination of th...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes