Temple Bar discount narrows despite muted returns in H1

NAV return falls by 4.03%

The £728.2m Temple Bar investment trust delivered a positive share price return in the first six months of the year, while its net asset value return performed broadly in line with its benchmark.

Over the period, Temple Bar delivered a share price return of 0.21%. The total return of the FTSE All-Share index was  own 4.57%, while the trust's net asset value total return was marginally better it still lost 4.03%.  The company's discount to NAV during the period narrowed though, from 7.80% to 3.84%. During the period nearly two million shares were bought back by the company.  Shell, BP and Total Energies, Standard Chartered, Vodafone and Pearson were positive contributors to return, whereas four domestically-focused names, Royal Mail, Marks & Spencer, ITV and Currys were major d...