By James Thorneley Portfolio restructuring of Securities Trust of Scotland has resulted in recent ou...
By James Thorneley Portfolio restructuring of Securities Trust of Scotland has resulted in recent outperformance by the closed-end fund. Over the four months to 30 April the trust's NAV has outperformed the FTSE All-Share every month, falling by just 3.6% over the period compared to a fall of 6.6% in the index. During the year to 31 March the NAV rose by 8.7% compared a 9.9% benchmark rise. Trust manager Tom Maxwell arrived at Martin Currie from Friends Ivory & Sime in July. In November he turned over the portfolio with the intention of refocusing the trust on purely UK equities. Until th...
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