1st Sep 2014 10:38
LONDON (Alliance News) - Henderson Smaller Companies Investment Trust PLC Monday said it outperformed its benchmark over the course of its last financial year.
In a statement, the trust said its net asset value increased by 19.9% on a total return basis in the year ended May 31, and outperformed its benchmark, the Numis Smaller Companies Index (excluding investment companies), which increased by 19.1%. That said, the FTSE Small Cap Index (excluding investment companies) gave a total return of 23.9%.
Net asset value per share increased to 637.6 pence, from 540.0p.
Over the past ten years the trust's NAV total return has been 306.8%, an outperformance of the 242.3% total return from the Numis Smaller Companies Index (excluding investment companies), the FTSE All-Share Index's 135.1% and the FTSE SmallCap Index's 113.6%.
"Uncertainty faces the UK, with votes on Scottish independence in September this year and a UK-wide general election in 2015. However, at long last the buds of economic growth are appearing in Western economies. Good news continues to flow from the corporate world, and the smaller companies market will continue to produce some exciting growth opportunities," Chairman Jamie Cayzer-Colvin said in a statement.
The trust is managed by Henderson Global Investors' co-head of UK equities, Neil Hermon, who also manages the UK Smaller Companies Fund.
The trust's shares were Monday quoted down 0.1% at 538.03p.
By Samuel Agini; [email protected]; @samuelagini
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Henderson Smaller Companies Trust