Baillie Gifford UK Growth Trust returns in H1 dented by slip in growth stocks | 26 November 2021

StockMarketWire.com - Baillie Gifford UK Growth Trust reported net asset value per share return that fell short of the FTSE-All Share Index return in the first half of of the year as weakness in Boohoo, Reinshaw and Lancashire Holdings weighed on portfolio performance.

Over the six month period to 31 October 2021, the company's net asset value per share total return was a positive 2.8% compared to a positive 5.4% for the FTSE All-Share Index total return.

The share price total return for the same period was a negative 5.6%.

'The main detractors from performance in the period were Boohoo.com Renishaw - the founders were unable to find a buyer who shared their long term vision for the company - and Lancashire Holdings - the insurer announced higher than expected storm losses,' the company said.

'Not owning the major oil stocks in the period was the other notable detractor.'

'The last twelve months have seen a welcome surge in the UK stockmarket but in relative terms has been less rewarding for growth investors as lower rated stocks have re-rated and performed better.'

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