16th Nov 2016 13:26
LONDON (Alliance News) - Dunedin Enterprise Investment Trust PLC said Wednesday that its net asset value declined in the three months to September 30.
Dunedin Enterprise said its net asset value per share at September 30 was 473.0 pence, a 0.6% decrease from its level at June 30.
However, the trust's share price increased by 5.2% over the three months to 326.0p from 310.0p, compared to an increase in the FTSE Small Cap Index of 11.9% over the same period. The rise left Dunedin's share price discount to net asset value at 31% at September 30.
Shares in Dunedin Enterprise were down 2.4% at 310.00 pence Wednesday.
Dunedin said that during the quarter it made GBP300,000 in investments and realised GBP5.7 million from portfolio companies.
"Trading in portfolio companies continues to be mixed," said Dunedin, noting the UK economy and mergers and acquisitions activity has been affected by economic uncertainty, weakness in oil prices and the impact of the UK's vote to leave the European Union.
By Adam Clark; [email protected]
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