9th Dec 2015 12:14
LONDON (Alliance News) - F&C Global Smaller Companies PLC on Wednesday said it outperformed its benchmark for the half year to end-October, and proposed an increased interim dividend.
The trust reported a negative return on net asset value of 1.5%, outperforming its benchmark which saw a negative total return of 4.0%. It uses a benchmark of a combination of the MSCI World ex UK Small Cap Index and the Numis UK Smaller Companies Index in a 70-30 ratio.
F&C Global Smaller Companies proposed an interim dividend of 2.90 pence, up from 2.65p a year before.
The trust said its best performance during the half year was from its UK portfolio, helped by the general economic environment and led by a number of its consumer-based stocks. In particular it noted a surge in the share price of Fevertree Drinks PLC and gaming and betting company Rank Group PLC, and highlighted a high level of takeover activity with several portfolio companies all falling prey to bids.
Companies exposed to the oil price stood out as weaker performers, and other poor performers were collectables business Stanley Gibbons Group PLC, equipment supplier Speedy Hire PLC and specialist care business Cambian Group PLC.
Shares in F&C Global Smaller Companies were down 0.2% at 991.71 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
FCS.LSGI.LRankFevertreeCambian GroupSpeedy Hire