Which was the only investment trust to post positive returns post-Brexit?

Stockmarket-Stock-Market-FTSE-Performance-700x450.jpgMarket reaction to the UK’s decision to vote to Leave the EU saw stocks fall across the board, but just one UK investment trust delivered a positive price return on Friday.

Across the UK all caps, UK smaller companies and UK equity income sectors, only the JP Morgan Elect Managed Income trust managed to avoid a loss on a price basis, according to FE data. The trust saw a 1.53 per cent rise in its price to close of market on Friday.

The £52.2m fund, run by Jon Baker and Sarah Emly, may have benefited from its more globally-focused, multi-asset exposure.

Small cap-focused investment trusts were hit the hardest, with the small cap end of the UK market seeing the largest price falls after Brexit.

On Friday the FTSE 250 fell 7.2 per cent, its worst one-day drop since 1987. The losses have continued today, with a 6 per cent drop in the index, compared to a 1 per cent drop in the FTSE 100 so far today.

The £4.96m Athelney Trust was the biggest faller for the day, seeing a 14.29 per cent price drop on Friday. This was followed by the £3.94m Chelverton Growth Trust at a 8.45 per cent fall and the £1.14bn Aberforth Smaller Companies Trust, which fell by 7.72 per cent.

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