23rd Nov 2018 12:11
LONDON (Alliance News) - Baronsmead Venture Trust PLC and Baronsmead Second Venture Trust PLC on Friday said their net asset values decreased in their recently ended financial years, reduced by dividend payments.
Baronsmead Venture Trust net asset value per share declined as at the end of September to 91.47 pence from 91.90p the year before. The trust highlighted that before a deduction from 2018 dividend payments its net asset value stood at 94.5p a share.
Meanwhile, Baronsmead Second Venture Trust's net asset value per share fell to 92.10 pence from 94.60p reported a year earlier. Prior to dividend payments, the figure was 95.1p.
Baronsmead Venture Trust shares were trading 1.2% lower on Friday at 82.50p each. Baronsmead Second Venture Trust shares were untraded, last closing at 83.00p each.
Both trusts proposed a final dividend of 4.5p, taking their total payouts for the year to 7.5p a share.
As at September-end Baronsmead Venture Trust's portfolio comprised of direct investments in 77 unquoted and AIM-traded companies.
The underlying value of the unquoted portfolio increased by 15%, reflecting the continued strong performance of the majority of investments. The AIM-traded portfolio increased by 5.9%.
"While the performance across the portfolio has been strong during the year, there is increasing volatility in the markets and given Brexit and the UK political situation we should anticipate that this will continue in 2019," said Baronsmead Venture Trust Chairman Peter Lawrence.
Baronsmead Second Venture Trust's portfolio comprised of 75 unquoted and AIM-traded companies at the financial year-end. The underlying value of the unquoted investments increased by 15%, while the AIM-traded portfolio rose by 4.1%.
"I continue to believe our large and diverse investment portfolio should underpin the returns to our shareholders over the medium to long term," added Baronsmead Second Venture Trust Chairman Anthony Townsend.
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