Personal Assets Trust PLC on Wednesday said it expects a limited direct impact from the UK budget decision to raise national insurance contributions for employers, as net asset value rose.
The investment trust said net asset value per share rose 6.6% to 498.80 pence as at October 31 from 468.10p. It was up 2.4% from 487.05p as at April 30.
The dividend per share for the first financial half was 2.80p, unchanged from a year prior.
Personal Assets Investment Manager Sebastian Lyon said gold continued to contribute ‘strongly’ to returns, rising 15% in sterling terms over the last six months.
‘More remarkable is that this return was achieved through a period of relatively high real yields, an environment that has typically been a headwind to the gold price. Western investors also appear to have been selling gold in recent years, with ETF holdings falling 226 tons since the start of 2023,’ he added. ETF stands for exchange traded funds.
Personal Assets Trust shares were 0.1% lower at 497.89 pence each on Wednesday morning in London.
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