Electra beats index

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Electra Investment Trust announced a 15.7 per cent rise in net assets in the year to September compared with a 14.7 per cent rise in the FT-SE All Share index over the same period.

The outperformance continued a trend over the past three years during which Electra's adjusted net assets have increased by 58 per cent compared with a 44 per cent rise in the market as a whole. During the year Robert Fleming acquired a 50 per cent stake in Electra Kingsway, the management, resulting in a one-off captial gain of pounds 6.4m for Electra.