Temple Bar beats benchmark in first half of 2024 as key portfolio holdings shine

NAV total return of 13.1%

Temple Bar investment trust (TMPL) beat its benchmark in the first six months of 2024 thanks to “solid gains” from several of its holdings in the banking, media and energy sectors.

In half-year results published today (21 August), the £885m trust posted a net asset value total return of 13.1% and share price total return of 11%, against the 7.4% gain recorded by the FTSE All-Share index. Temple Bar's chair Richard Wyatt said the results reflect "strong stock selection" in market conditions that have been "supportive" of the portfolio managers' value investing approach. The outperformance enjoyed by the trust came on the back of solid gains made by its positions in NatWest Group, Barclays, ITV and Anglo American, as well as in the Dutch insurer NN Group, with all...