28th Jan 2015 10:12
LONDON (Alliance News) - Henderson Smaller Companies Investment Trust PLC Wednesday reported a fall in its net asset value on a total return basis over the first six months of its financial year, though its performance was better than that of its benchmark.
According to the trust, the Numis Smaller Companies Index (excluding investment companies), was down by 4.6% for the six months to November 30, 2014 on a total return basis but the trust's NAV was down 1.2% on the same basis.
"You may have recently read many articles making economic predictions for 2015. The general message was of a positive outlook, predicting that the economy will continue to grow. It is evident that the average person has more money to spend and this is benefiting businesses of all sizes and many key bodies are forecasting growth to be in the order of 2.5%," Jamie Cayzer-Colvin, the trust's chairman, said in a statement.
Cayzer-Colvin cautioned of uncertainty in the eurozone and in the UK, where he said the result of the General Election in May is "extremely unpredictable". He also raised the issues of "recent figures showing growth in service industries and construction tailing off and the oil price falling dramatically".
"But even if this means a difficult period for investing, you can be reassured that the company will stick to its principles and strategy," the chairman said.
The trust increased its interim dividend to 3.5 pence per share from 3.0 pence.
"This [dividend payment] reflects the continuing growth in the dividend payments from our portfolio companies," Cayzer-Colvin said. "It is currently the board's intention to at least maintain the final dividend, which was 8.0p for the year ended May 31, 2014."
The trust's shares were up 0.7% at 564.62 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Henderson Smaller Companies Trust