Artemis managers pursue portfolio 'fit for the new normal'

Share price fell 9.5%

Following a 7.5% decline in Mid Wynd International Investment Trust’s net asset value, the managers have been given the go-ahead to shakeup the portfolio to see it through the new market cycle, according to its annual financial report.

In the report, the trust's chair Russell Napier said that the past 12 months had been "disappointing" with the share price falling 9.5% for the year ended 30 June 2022. He said that given the "rapid periods of structural change" that have occurred this year, namely rising inflation, the trust's managers had been charged with reconstructing the portfolio to make it appropriate for the new economic backdrop. Napier said: "The role of our managers, in this period of dislocation leading to profound structural change, is to build an equity portfolio fit for this 'new normal.' The portfolio...