EDINBURGH Worldwide Investment Trust outperformed its comparative index during the six months to April 30, as its holdings in healthcare companies provided a boost, its latest results have shown.
The investment trust, which is focused on identifying innovative, immature companies with what it believes to be excellent long-term growth potential, achieved a 14.7 per cent increase in net asset value per share during the six months to April.
Its comparative index, the S&P Citigroup Global Small Cap Index, rose by 10.4 per cent in sterling terms during the same period.
The trust, which had total assets of £268 million at April 30 and is managed by Edinburgh-based investment house Baillie Gifford, highlighted "encouraging progress" by a number of its holdings in healthcare companies over the six-month period.
It said: " 4D Pharma, a company developing natural bacteria-derived therapeutics, reported that it had identified bacterial strains with disease-modifying effects in models of rheumatoid arthritis and asthma. Dexcom reported very strong uptake of its continuous blood glucose monitoring technology - the technology is in the relatively early stages of adoption within the diabetic community and we remain excited with regard to the growth profile and product evolution."
Edinburgh Worldwide also highlighted the contribution made to its positive investment performance its stakes in Xeros Group, a UK developer of a polymer bead-based cleaning technology, and Galapagos, a Belgian biotechnology company.
Highlighting its long-term investment approach, the trust said: "There will be periods when performance differs notably from the comparative index. However, the board and managers are enthused by the range and type of companies held and believe that long-term investors will benefit from the company's diversified portfolio of exciting growth stocks."
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