17th Mar 2016 17:24
LONDON (Alliance News) - JPMorgan US Smaller Companies Investment Trust PLC on Thursday said its net asset value performance outpaced its benchmark in 2015, helped by good stock selection in a difficult market.
The trust said its net asset value grew 4.0% in the year to the end of December, ahead of the 0.9% rise for its benchmark, the Russell 2000 Index.
Stock selection was the key driver of performance over the year, the trust said, with particular success for its consumer discretionary, materials and processing, financial services and energy stocks over the year.
The trust said 2016 had produced one of the worst starts to a year from an equity perspective since the 1970s, but it remains confident its managers will continue to identify successful investments able to navigate through the volatility.
Shares in the trust were down 0.7% to 169.375 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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