Capital Gearing trust’s share price fell 7.1% over the last year, compared to its comparator MSCI UK index growth of 5.6%, in only the second year of negative returns for the trust in the past 41 years.
In the trust's annual results for the year ended 31 March 2023, it revealed that NAV per share for the trust fell 3.6% over the period, which it credited to surging inflation and interest rates. Peter Spiller, who is the UK's longest-serving investment trust manager, has run the trust for its entire 41 years. He shares the co-manager role with CEO Alastair Laing and CFO Chris Clothier. Scottish Mortgage must 'clear the air' over start-up investments The managers acknowledged the "disappointing period" for the trust, adding that "no part of our portfolio was untouched" by the sh...
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