3rd Nov 2014 09:44
LONDON (Alliance News) - Fidelity Special Values PLC Monday said its net asset value total return marginally outperformed its benchmark over the year ended August 31.
The UK-based investment trust said its NAV total return for the year to end-August was 10.7%, compared with its benchmark, the FTSE ALL-Share Index, which returned 10.3%.
"The first half of the year continued very much as the last left off, with the company posting exceptionally strong returns, ahead of its benchmark, the FTSE All-Share Index. However, in the spring, the market lost its enthusiasm for smaller companies, and their valuations reduced," the company said in a statement.
It said its share price rose 9.2% during the year, and it paid out a final dividend of 16.50 pence per share for the year, compared with 16.25 pence the prior year.
"The attractive range of investment ideas in the company today gives the board comfort that as we move into the new financial year, the long term performance potential of the company remains good," it added.
The company's shares were up 0.6% Monday morning at 861.69 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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