Mobius Investment lifts outlook for second half as inflation eases

(Alliance News) - Mobius Investment Trust PLC on Friday said outlook for the second half of the ...

Alliance News 2 August, 2024 | 1:24PM
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(Alliance News) - Mobius Investment Trust PLC on Friday said outlook for the second half of the financial year is "more positive" as global inflation and monetary policy ease.

Mobius Investment is a London-based investment trust, with a diversified portfolio of companies exposed to emerging or frontier markets.

Mobius Investment reported an 11% increase in net asset value per share to 141.7 pence on May 31, from 127.6p a year before.

NAV total return was negative 1.0% for the six months that ended May 31, improving from negative 4.0% a year prior.

Looking ahead, the firm said it expects a stronger financial-year second half as "global inflation cools and monetary policy eases".

Chair Maria Luisa Cicognani said: "We believe emerging markets are poised for significant growth in the medium-term, driven by a favourable macroeconomic backdrop, structural and cyclical growth stories and attractive valuations. The rise of artificial intelligence is a key investment driver, with companies that supply major tech companies benefiting significantly from this trend, including a number of [Mobius Investment's] holdings."

Mobius Investment shares were down 2.3% to 134.35p each in London on Friday afternoon.

By Lydia Doye, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Mobius Investment Trust Ord 134.25 GBX -2.36

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