Private equity holdings boost Foreign & Colonial IT

Natalie Kenway
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Private equity positions were the largest positive contributor to the Foreign & Colonial investment trust in the first half of the year, helping to offset the effects of BP's dividend suspension.

At the end of June 2010, Britain's longest-running trust had 17.1% of its £2bn portfolio in private equity - with these holdings climbing 11.3% over the period. "The biggest single positive contributor to our results was our private equity portfolio," chairman Simon Fraser says. "As we expected, valuations rose following the gains in listed markets since March 2009 and there was a pick-up in cash realisations after two quiet years." Despite the private equity gains and additional share buybacks, the trust's NAV fell 3.4% to 294.4p and the share price total return dipped 3.6% in the fi...

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