Discount to NAV widens at Value & Income

3rd Nov 2010 15:56

Value And Income Trust, which, unusually among investment trusts, invests directly in property as well as UK equities, saw its share price discount to net asset value per share widen in the six months to end-September.Net asset value per shares (NAV) with debt valued at par improved to 235.86p at the end of September from 231.76p, while over the same period the share price eased to 163p from 169p.The improvement in NAV was achieved despite the FTSE All-Share falling back by 1.5% over the same period. At the end of September 65% of the trust's assets were tied up in UK equities, up from 63% at the end of March, while 34% were invested in UK property, the same as at the end of March. The cash element of the portfolio fell to 1% from 3% at the end of March.The company has declared an interim dividend of 3.80p per share, unchanged from last year.