News Column

Ecofin Compares Favourably Against Global Equity Markets Over First Half

May 29, 2014

Samuel Agini

LONDON (Alliance News) - Ecofin Water & Power Opportunities PLC Thursday said its net asset value per ordinary share rose by 10.2%, and 12.3% on a total return basis, over the course of the half-year.

In addition, Ecofin Water & Power Opportunities said net assets attributable to ordinary and zero dividend preference shares rose by 9.0%.

The total return per ordinary share, which is the change in the share price plus the dividends received and reinvested, was 13.4%.

Chairman Ian Barby said the performance compared favourably against the global equity markets' over the half-year.

The MSCI World Index of developed country equity markets rose by 6.5% in sterling terms on a total return basis over the six months ended March 31, while the MSCI World Utilities Index rose by 7.8% on a similar basis and the MSCI World Energy Index rose by 5.9%.

Barby said the performance reflected the company's geographical asset allocation and stock selection and took place against a background of a stronger performance by the utility sector, particularly in Continental Europe. The progress at Lonestar Resources Ltd also made a significant contribution to performance, the Chairman said.

Ecofin Water & Power Opportunities shares Thursday closed at 152.00 pence, up 2.7%.

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Source: Alliance News

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