18th Jan 2019 09:45
LONDON (Alliance News) - Henderson Smaller Cos Investment Trust PLC said on Wednesday it underperformed against its benchmark in the recent half-year, as Brexit continues to put a strain on UK equities.
The company reported a net asset value negative return of 15% for the six months to the end of November. This reflected an underperformance against its benchmark, the Numis Smaller Companies Index, which declined by 10% over the same period.
The trust's net asset value per share as at November 30 stood at 876.8 pence, down from 961.7p on the same date a year before and 1,046.9p on May 31.
Henderson's share price as at November 30 was 772.0 pence, reflecting a widened discount to net asset value at 12% from 7.7% as at May 31.
Shares in Henderson Smaller Companies were up 0.5% at 796.00 pence on Friday.
Henderson Smaller declared an interim dividend of 6.5 pence per share, up from 6.0p the year before.
"The period under review has been a negative one for the UK equity market. The company's performance has been poor, with an absolute fall and underperformance compared to our benchmark. Equity market conditions remain difficult and the uncertainty over Brexit is leading to a reduced appetite for UK equities from international and domestic investors," said Fund Manager Neil Hermon.
Related Shares:
Henderson Smaller Companies Trust