15th Dec 2020 16:23
BMO Global Smaller Cos PLC - investment firm focused on on a portfolio of global smaller companies - Says net asset value per share ends October at 134.49 pence compared to 120.26p at the end of April. Net assets grows to GBP789.6 million from GBP726.5 million over six-month period. Declares interim dividend of 0.55p, unchanged on the year before. NAV total return in the first half 13.1% compared to benchmark adding 15.2%.
Investment Manager Peter Ewins says: "The market return figures confirm that all parts of the world delivered meaningfully positive returns, with Asian markets doing the best, helped by the Chinese economic recovery. Our portfolios failed to keep up with the market rallies in North America and the UK and our collectives portfolio for the Rest of World also lagged the Asian market surge.
"Being behind in North America and the UK is unhelpful given these are the largest segments of the portfolio but there was a partial offset from the outperformance in Europe and Japan. We benefited from a high exposure to resilient growth stocks on the Continent and outperformance by two of our three collective holdings in Japan helped to produce the good relative return here."
Current stock price: 141.35 pence
Year-to-date change: down 2.6%
By Paul McGowan; [email protected]
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