29th Jan 2020 13:32
(Alliance News) - Henderson Smaller Cos Investment Trust PLC said Wednesday it outperformed its benchmark for the first half of its financial year, as uncertainty surrounding Brexit and political leadership changes in the UK have abated.
The investment firm reported a net asset value total return of 7.5% for the six months to the end of November, reflecting an outperformance against the Numis Smaller Cos Index, which rose by 4.9% over the same period.
Henderson Smaller's net asset value per share as at November 30 stood at 1,011.4 pence, up from 876.8p the same date the year before and 958.7p on May 31.
The trust's share price was at 975.0p, reflecting a narrowed discount to net asset value at 3.6% from 11% at the end of May 31.
Shares in Henderson Smaller were up 1.0% on the day Wednesday at 1,086.50p, having improved further since the period-end.
The trust declared an interim dividend of 7.0 pence per share, up 7.7% to 6.5p the year before.
"The Conservative election victory has given a significant boost to the UK small and mid-cap equity market. The result has provided political clarity and removed the risk of a market unfriendly Corbyn government. It has also provided more certainty to our negotiations over Brexit. However, it is still unclear as to what our future trading relationship with Europe is and what trade deal can be negotiated," said the fund's manager, Neil Hermon.
By Dayo Laniyan; [email protected]
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