19th Aug 2014 14:19
LONDON (Alliance News) - JPMorgan US Smaller Companies Investment Trust PLC Tuesday that it saw a negative return on net asset value of 0.4% during the half year to end-June, underperforming its benchmark, the Russell 2000 Index, which saw a negative total return of 0.2%.
The trust said that the strength of sterling against the US dollar again weighed on its returns, while US small caps over the first half had been going through a more muted return environment.
"US small cap is, by its very nature, a volatile asset class and although the primary concern for investors should be domestic economic recovery, sell-offs in these stocks are just as likely to come from outside concerns such as events that are unfolding in the Middle East or eastern Europe," the company said in a statement.
Shares in the trust were trading up 0.5% at 143.81 pence Tuesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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