Monks 'ruthlessly' slashes 20 holdings amid 'disappointing' results

NAV down 5.2% YTD

Eve Maddock-Jones
clock • 4 min read

Managers of the £2.7bn Monks investment trust comment on “disappointing” performance in 2022, as a maelstrom market subdues investment outlook and sentiment.

In the trust's half-year results, covering the period to 31 October 2022, the company recorded an decline in net asset value of 5.2%, larger than its FTSE World benchmark, which is down 0.3%. Since the last results at the end of April, the trust's discount has widened from 3.5% to 4.8%, and the share price total return was 7.6%. According to the management, a combination of the war in Ukraine, rising inflation and central bank rate hikes "have done little to ease investor nervousness" and as a consequence investment timelines have reduced and valuations taken a hit. For Monks and B...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week