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AVI Global Trust ups dividend despite deeper losses than benchmark

By BFN News | 08:39 AM | Friday 29 May, 2020


Investment trust AVI Global Trust raised its interim dividend despite undershooting its benchmark in the first half of the year as net asset value returns plunged by nearly quarter. For the six-month period ended 31 March 2020, net asset value total return fell 24.7%, compared with a negative total return of 17.0% for the MSCI All-Country World Index ex-USA Index. Returns in the first half of the year were pressured by the rapid development of the Covid-19 pandemic over the first quarter, the company said. The effects of the market fall on the prices of many underlying assets were compounded by sharp moves in the discount to asset value in some of its investments, it added. The interim dividend was increased to 6.0p a share from, up from 2p last year. Looking ahead, the company said the outlook was uncertain as there was much debate about the sustainability of the recent rally in equity markets. At 8:39am: (LON:AGT) Avi Global Trust PLC share price was -3.5p at 656.5p Story provided by StockMarketWire.com

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