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EFM announces Dunedin results

Edinburgh Fund Managers has announced its Dunedin Income Growth Investment Trust has underperformed the FTSE All Share Index during the six months to July 31.


The trust achieved a 7.3 per cent increase in its net asset value per share over the six months but this lags behind the FTSE All Share which returned 8.5 per cent over the same period.


The trust returned a total net asset return of 8.2 per cent over the period, while the dividend increased by 2.5 per cent.


EFM blames its performance on banking and life assurance companies within its investment portfolio, which it says underperformed during the first six months of the year holing back capital performance over that period.

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