Legal Entity Identifier: 213800UMIOUWXZPKE539
During the six months to 30 November 2020, the Company s share price and NAV (after deducting borrowings at fair value) returned 50.8 per cent. and 53.8 per cent. respectively. This compares with a total return of 11.1 per cent. for the S&P 500 Index (in sterling terms).
¾ Moderna, held in the Company since 2018, is one of the biotechnology companies which has been at the forefront of coronavirus vaccine development. ¾ In the energy sector, there s been an acceleration in the shift towards electric vehicles. ¾ SpaceX, a private company investment, has been innovating at a breath-taking pace. ¾ We are optimistic about what the future holds. The pace of innovation is speeding up and spreading out. This ought to be a fruitful environment for growth investors.