- Investment trust F&C Investment Trust reported a rise in net asset value return that topped that of its benchmark in the first half of the year.

The net asset value per share was 927.41 pence, representing a net asset value total return of 12.3%. That was ahead of the 11.1% return of its benchmark, the FTSE All-World Index.

Its private equity exposure posted a gain of 14.2% that was ahead of the returns from listed markets.

The first interim dividend of 3.0 pence for 2021 would be paid on 2 August, and the company said it was 'committed to a further increase in the total dividend.'

'Beyond the near term, it seems likely that the balance of risks has shifted in favour of somewhat higher inflation,' the company said.

'This will present challenges but modest rises in inflation, slightly higher interest rates, but still good rates of growth, present a favourable backdrop for our portfolio,' it added.

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