City Of London Investment Trust Hoping For A Better 2021

Published on March 04, 2021 10:37 AM NZDT

Be the First to Comment

Mark O'Donnell

Author

Mark O'Donnell - Author
75 Posts
Mark is a recent graduate from the Auckland University of Technology. His field of study encompassed Computer Science and Economics. His journalistic interests include analysing macro-economic trends to determine their micro-economic impacts and eval...

The City of London Investment Trust Plc (NZX:TCL) has delivered its half-year update for the six months to 31 December 2020. The Trust’s performance was hampered by shutdowns in the UK last year but is hoping to return to normalcy in 2021.

The Trusts total return for the period fell short of the All-Share index on the London Stock Exchange by 2.4 percentage points. The Trust returned 6.9% for the period.
The Trust is encouraged by the rollout of Covid-19 vaccines in the UK. The Trust expects the UK economy to recover quickly due to the Bank of England’s extraordinary stimulus package.
The trade deal struck between the UK and EU at the end of 2020 is expected to improve international sentiment toward UK-based equities moving forward.

On 4 March, at the time of writing, The City of London Trust shares were trading at $7.01.