14th May 2015 17:23
LONDON (Alliance News) - North Atlantic Smaller Companies Investment Trust PLC Thursday said its net asset value rose by 13.5% in the last financial year, providing a mixed performance compared to some indexes.
The trust's fully diluted net asset value rose by 13.5% to 2,259.0 pence from 1,991.0 pence as compared to a rise in the sterling-adjusted Standard and Poors Composite Index of 22.2% in the same period. The trust said the under-performance should be seen in the context of the fact that the company's exposure to quoted US securities is minimal.
The FTSE Small Cap, on the other hand, rose by only 2.9% during the year and is a "more accurate guide given the current make up of the portfolio", it said.
The trust reported a loss after tax attributable to shareholders of GBP2.2 million compared to a loss of GBP355,000 a year earlier. Total assets rose to GBP328.9 million from 318.6 million.
The trust did not declare a dividend for the year.
North Atlantic shares closed down 0.8% to 1,865.00 pence per share on Thursday.
By Joshua Warner; [email protected]; @JoshAlliance
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