F&C trust sees £32.7m income

FOREIGN & Colonial Investment Trust yesterday said its portfolio delivered £32.7m income in the past six months, almost ten per cent more than in the first half of 2010.

The £2.4bn fund, run by Jeremy Tigue, saw its net asset value increase by 3.5 per cent to £3.58 per share over the half year as major companies raised their dividends.

UK companies provided almost half of its dividend yields, £16.1m, compared with £16.3m contributed from elsewhere in the world.

The trust had also spent £45.9m on share buybacks in the past half year.