02 Aug 2010

Mid Wynd Announces Annual Results 

The latest annual results for Mid Wynd International Investment Trust PLC show, for the year to 30 June 2010, an increase in the net asset value per share of 29.8% compared to a 19.9% rise in the comparative index, the FTSE World Index (in sterling terms). Mid Wynd’s share price rose by 39.0%.

The strong relative and absolute performance was due predominantly to stock selection in Europe and the UK, supported by Mid Wynd’s bond holdings and an increased exposure to Emerging Markets.  Over the year Mid Wynd’s Bond portfolio was reduced to 5% of total assets with proceeds reinvested in UK and Emerging Market stocks that should benefit from continuing epoch shifts in economic power or where mispricing presents a specific opportunity.

Looking forward Mid Wynd believes that there is a range of attractive unusual, neglected, illiquid or unloved investments that offer opportunities for positive returns. 

Mid Wynd is a global growth investment trust with the objective of achieving capital and income growth by investing on a worldwide basis. The Trust has total assets of £55.4m (before deduction of banks loans of £5.3m) as at 30 July 2010.

More details on the results can be found in the press release transcript at the top of this page. You can also find up to date performance information about Mid Wynd on Baillie Gifford’s website www.midwynd.co.uk.

Please remember that past performance is not a guide to future performance. The value of your investment may go down as well as up and you may not get back the amount originally invested.  You should regard your investment as long term.

The trust invests in overseas securities and changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.

 Mid Wynd can borrow money to make further investments (sometimes known as "gearing"). The risk is that when this money is repaid by the trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the trust will make a loss. If the trust's investments fall in value, any borrowings will increase the amount of this loss.