Monks IT outperformed FTSE World Index last year

2nd Jun 2011 15:31

The Monks Investment Trust, which focuses on international growth stocks and is managed by Edinburgh based fund management group Baillie Gifford, outperformed its benchmark index last year.In the year to 30 April it achieved a net asset value total return of 11.2%. During the same period the share price total return was 16.7%, while the FTSE World Index in sterling terms returned 9.3%. The trust's over-performance over the last 5 years to the past 30th of April has been less than that, with the share price total return increasing by 33.8%, as and when compared to a 30.3% return on the FTSE World Index. Of interest, during said period the trust took on additional borrowings of £40m, for a three year term at a fixed rate. There was net investment, mainly in equities, with call options on the Japanese market being purchased.All in all the trust's managers seem more encouraged in the longer term picture, helped by the growth in demand from emerging economies. Baillie Gifford has around £76bn under management and advice as at 31 May 2011.AB