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The Scottish American Investment Company (SAINTS) has reported returns of 11.3% in net asset value return, over the first six months of 2021.
Global equities returned 11.4% over the period, whilst the Global Equity Income Sector returned 10.6%.
The company has outperformed its sector significantly over the last five years, retuning 107.3%, against the sectors 69.8%.
The companys property portfolio delivered a 12.9% return, following the significant sale of a data centre in Milton Keynes.
The company declared a second interim dividend of 3.075p, and issued over £43 million of shares over the period. The company borrowed £15 million at 2.23%.
According to the companys interim management report:
The main driver of total returns in any one period is our global equity portfolio, which delivered an 11.0% total return over the first half, as confidence in the economic recovery from the pandemic continued to build.
Notable contributors included two of our logistics holdings, UPS and Kuehne + Nagel: both companies benefited from the rapid rebound in global trade, as companies sought to respond to pent-up consumer demand.