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F&C outperforms benchmark in first half of 2024 aided by US large-cap exposure
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In its half-year results published today (1 August), the £6bn trust posted a net asset value total return of 13.2%, against the FTSE All-World index's 12% gain. US large-cap companies within F&C's North American portfolio returned 25.7%, compared to the 21.9% recorded by the Russell 1000 growth index, with top performers such as Eli Lilly and Meta contributing the most to the vehicle's returns. «While the fundamental backdrop is constructive and the US recession has been avoided, global equity markets, dominated by the US, continue to trade at historically elevated valuation levels,»...
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