Monks Investment's 16.7% share rise

The £1.2 billion Monks Investment Trust has posted a 16.7 per cent share price gain for the year to the end of April, boosted by growth in emerging markets.

The trust's net asset value was up 11.2 per cent while its share price total return compared with 9.3 per cent growth in its benchmark, the FTSE World index, over the same period.

However the trust, run by Edinburgh-based Baillie Gifford, said its total dividend for the year remained unchanged at 3p per share, despite a modest earnings per share increase.

Monks, which invests in global stocks, said long-term prospects would be helped by rising demand in emerging economies. However, it was less optimistic about the short-term, citing concerns over the end of quantitative easing in the US, inflationary pressures and sovereign debt.