ABERDEEN Asset Management’s Dunedin Income Growth investment trust has unveiled a positive set of first-half results, with its net asset value increasing by 15.6 per cent on the same period last year while the total return on its share price was 14.5 per cent.

This comes after a poor performance in the year to January 2016.

During the six months to the end of July the fund transferred some of its sterling borrowings into euros to take advantage of the latter currency’s relative strength following the Brexit vote.

Fund manager Jeremy Whitley, who has co-run the portfolio alongside Ben Ritchie for the past six years, has stood down. Ritchie will now be lead manager, assisted by Louise Kernohan.