12th May 2016 17:46
LONDON (Alliance News) - North Atlantic Smaller Companies Investment Trust PLC on Thursday said its net asset value per share beat its benchmark in its last financial year.
The trust said its net asset value per share in the year ended January 31 rose by 22% year-on-year, beating 2.8% growth in the Standard & Poor Composite Index and a 1.3% decline in the FTSE Small Cap Index.
North Atlantic said its portfolio benefited from an excellent performance by MJ Gleeson PLC, which rose by 64% in the year. Oryx International Growth Fund also significantly outperformed its target index with the NAV rising by 26%.
Goals Soccer Centres PLC was weak, however, although new investments in OMG PLC and Source BioScience PLC performed well.
"I am optimistic that our manager will find opportunities arising out of the current situation and will continue to build shareholder value," Chairman Peregrine Moncreiffe said in a statement.
Shares in North Atlantic closed down 1.5% at 2,320.00 pence on Thursday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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