Baillie Gifford UK Growth Trust PLC on Friday highlighted an optimistic outlook, noting that companies will be able to grow even if the UK economy ‘remains lacklustre’.
The London-based investment firm focused on mid and smaller cap growth companies said net asset value per share climbed 5.2% to 203.1 pence as at the October 31 half-year end, from 193.0p as at April 30.
NAV total return was 8.1% in the six months to October 31, easily outperforming the FTSE All-share index which had a total return of 1.8%.
Looking ahead, Chair Neil Rogan said: ‘Many of the companies held will be able to grow even if the UK economy remains lacklustre. But the real excitement would come if the UK was able to unleash its growth potential. The new government’s policy is geared towards increasing growth in the economy but achieving this will be challenging.’
Baillie Gifford UK Growth shares were flat at 177.50 pence each on Friday afternoon in London.
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