Hill warns on market volatity

Investec Capital Accumulator using structured products as hedge against market swings

Investors should beware further market volatility and uncertainty, the chairman of the Investec Capital Accumulator trust warns. In the investment trust's six month results to 31 March, chairman Christopher Hill says the portfolio will continue to use structured products despite the recent market rally, to hedge against future swings. The company's NAV per share was down 5% over the period, from 83.1p to 78.8p. During this period, the portfolio's overall net assets fell 7.4% from £27m to £25m and it made a pre-tax loss of £8m, 81.25% more than the £1.5m loss at 30 September last year....