For the year ended 31 December 2018, Witan Investment Trust reported NAV returns of -8.4%, which is below the benchmark return of -6.5%. The company’s five-year NAV total return was 52.1%, compared with benchmark returns of 44.6%. Revenue earnings per ordinary share for the year were 25.92p.
The company feels that given the relatively minor economic importance of the UK and the company’s global investment remit, Brexit is only one of a number of economic factors affecting the outlook for Witan’s portfolio.
The company also feels that risks for the UK domestic economy are more significant, and the political uncertainty related to the lack of unity in the government and the radical policies of the opposition continues to cloud investors’ attitude towards the UK.