16th Apr 2014 16:05
LONDON (Alliance News) - Amati VCT 2 PLC said Wednesday that it had outperformed its benchmark in the year to end-January.
The investment trust posted a total return on net asset value per share of 22.6%, outperforming the FTSE AIM All-Share Total Return Index, which posted a return of 18.0%.
Amati proposed a total dividend of 6.75 pence, up from 6.0 pence in the previous year.
Amati said that the AIM market as a whole had been muted in the first half, but rose strongly after that. However, the company said that after a strong year for AIM stocks, there were questions about how long the positive market conditions can last.
The company noted that the strong year for the UK stock market had encouraged companies to launch initial public offerings again, and many of these IPOs were well received.
The biggest contributor to the company's performance was Access Technology Group PLC, which saw its share price rise 70% over the year. Outside of that, Prezzo PLC also performed well with an 89% share price rise.
"The key driver of the success of the portfolio will be the business performance of the companies in which we have invested, and here we continue to see many promising prospects, which provide grounds for optimism," the company said in a statement.
Shares in Amati last traded flat at 121.5 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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