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Equities investor Monks Investment Trust posted a positive first-half performance just shy of its benchmark.
The company's net asset value total return per share for the six months through September was 6.5%.
That compared to an increase of 8.9% for the FTSE World Index, in sterling.
Monks didn't declare an interim dividend, though it said a single final dividend would typically be paid after its annual general meeting, reflecting a focus on capital growth.
'The pandemic has triggered an avalanche of change and we believe that there will be structural consequences we do not yet fully understand or appreciate,' Monks said.
'Innovation is speeding up and spreading across the economy.'
'In this regard, we believe that we are closer to the beginning of this process than the end.'
'The approach taken by the Monks Investment Trust seeks to embrace this change - accepting that growth in revenues, earnings and cash flows can be delivered in different ways.'
'We believe many of the companies in the Monks portfolio will be beneficiaries of change and seek to guard against complacency by ensuring that our view remains differentiated.'
'By focusing on these fundamentals and by being open-minded about the sources of growth opportunities, we believe we can continue to grow savers' capital within The Monks Investment Trust.'