Artemis Alpha Trust's performance lagged the FTSE All-Share Index in the six moths to the end of October.
The company's net asset value per share rose by 2.7% and its share price by 4.6% in the period on a total return basis, compared with 5.9% increase in the index.
The company said the UK market performed less strongly than some other major world markets in the period largely due to the continuing political uncertainty surrounding Brexit and the result of the General Election in June.
Chairman Duncan Budge said: 'Our investments in financial services, and in particular fund management companies, performed well over the half year. Overall, the performance was held back by some individual stocks, most notably Hurricane Energy, an oil exploration company.
'I am pleased to report that some of our overseas holdings have performed well and that we have added to this part of the portfolio.'
At 8:30am: (LON:ATS) Artemis Alpha Trust Plc share price was -1p at 309.5p