29th Oct 2018 13:25
LONDON (Alliance News) - BlackRock Smaller Companies Trust PLC said Monday it outperformed its benchmark in the first half of the financial year.
For the six months to August 31, the investment trust total return stood at 7.8% versus a total return of 3.0% in the company's benchmark, the Numis Smaller Companies plus AIM Index.
Net asset value per share increased to 1,623.69 pence from 1,447.17p a year ago.
The trust increased its interim dividend by 20% to 12.0p per share from 10.0p a year prior.
"After a difficult start to the calendar year, the UK equity markets rose in the period under review, albeit at a much slower pace than in previous years. Markets were weighed down by concerns over Brexit, escalating trade wars and other geopolitical risks," the company explained.
Looking ahead, the trust noted the challenges due to markets volatility, driven by political uncertainty, trade wars and difficult financial conditions.
However, it said it remains confident in the value of its portfolio and its capability to achieve "superior growth".
Shares in the company were up 1.6% at 1,300.00p on Monday.
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BlackRock Smaller Companies Trust PLC