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magazineMid-Wynd shares hit new record high
Mid-Wynd International (MWY) 650p
Gain to date: 12.3%
Original entry point: Buy at 578.94p, 5 March 2020
Shares in investment trust Mid-Wynd International (MWY) have hit a new record high of 650p, meaning the stock is already up 12.3% since we said to buy three months ago.
Mid-Wynd regularly buys and sells stocks, particularly locking in gains when valuations look excessive.
It avoided a lot pain during this year’s lockdown by having offloaded its holdings in the tourism sector last summer, a part of the stock market which was heavily sold down as the coronavirus crisis spread globally. ‘The timing was fortuitous,’ says fund manager Simon Edelsten.
Mid-Wynd didn’t sell out of this sector because it expected a pandemic, but rather because the environmental arguments against significant tourism growth were getting a much bigger airing.
‘Through focusing on long-term trends as opposed to short-term events, the managers have been able to identify high-quality companies which can continue to generate revenue irrespective of the macroeconomic uncertainty,’ says William Sobczak, an analyst at research group Kepler.
‘This has been proven in 2020 with a number of sectors, including healthcare, automation and scientific equipment performing extremely strongly.’
SHARES SAYS: Often overlooked because of its relatively small size (£319m market cap), however its strong performance speaks for itself. An intention to
sustain progressive dividends adds to its merits.
Important information:
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
