John Evans, Chairman, commented: "Your board is particularly encouraged to see that the discount at which the company’s shares trade has narrowed in the period under review. As a result, the share price total return was 17.0%. I will comment further on the share rating below."
"These returns are most satisfactory and the board is particularly encouraged that the longer-term performance of the company is now equally strong. Over three years the NAV total return is 36.9% against the peer group median return of 28.2%."
Past performance is not a guide to future returns.
The value of investments and the income from them may go down as well as up and is not guaranteed. An investor may not get back the amount originally invested.
The majority of charges will be deducted from the capital of the company. This will constrain capital growth of the company in order to maintain the income streams.
Source: Martin Currie, for the six months period to 30 September 2019. The yield reflects dividends declared over the past 12 months as a percentage of the mid-market share price, as at 30 September 2018. Investors may be subject to tax on their dividends.
*On 1 June 2016 Securities Trust of Scotland changed from benchmarking performance against the MSCI World High Dividend Yield index to an unconstrained strategy measured against the performance of the median of the peer group which consists of the AIC Global Equity Income sector combined with actively managed ICVC, SICAV or OEIC funds from Lipper Global – Global Equity Income sector. Performance is measured against the median of this peer group.