24th Jun 2014 09:27
LONDON (Alliance News) - Montanaro UK Smaller Companies Investment Trust PLC Tuesday said that it underperformed its benchmark index in its last financial year.
In a statement, the trust, which targets capital growth by investing in small companies with a listing on the London Stock Exchange, said that its net asset value per share increased by 11% to 588.22 pence in the year ended March 31, compared with a 23% increase in the Numis Smaller Companies Index (excluding investment companies).
Its share price increased by 16% to 505.50 pence over the year, a 13% discount to NAV, excluding current period revenue, per share. At the start of the year the discount was 16%.
The trust's shares were Tuesday quoted at 472.63 pence, down 0.4%.
By Samuel Agini; [email protected]; @samuelagini
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