Midas Income and Growth hit by property and fixed income bets

Property and fixed interest holdings proved detrimental for the multi-asset Midas Income and Growth ...

Property and fixed interest holdings proved detrimental for the multi-asset Midas Income and Growth investment trust over the year to 30 April. Headed up by Alan Borrows, the trust produced an NAV return of -9.1% against benchmark performance of 8%. Borrows highlighted the holding in the M&G Leveraged Loan fund, which he said was hit particularly hard following indiscriminate selling by hedge funds. "We feel the worst may be over and the European loan market should see some gradual recovery over the next 12 months," he added. Elsewhere, he said the trust's property holdings were hur...