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Spiller’s ‘great sadness’ at Capital Gearing's first loss since 1982

by Robert St George on May 30, 2014 at 10:43

Ewan Lovett-Turner, an analyst at Numis, backed Capital Gearing despite its short-term weakness.

‘Despite not delivering a positive return in the 2014 financial year, Capital Gearing Trust has an outstanding long term track record of delivering positive returns for investors in all market environments,’ he argued.

Numis estimated that the trust has generated an annualised net asset value total return of 16.2% since 1982, compared with 11.6% from the FTSE All Share – with particular outperformance coming through market crashes.

‘We believe that Capital Gearing Trust is an attractive long-term vehicle for cautious investors,’ Lovett-Turner concluded.

He also noted that it was no longer trading on ‘an excess premium’, having contracted from 17% to 2.5%.

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