18th Jun 2014 11:28
LONDON (Alliance News) - North Atlantic Smaller Companies Investment Trust PLC, which targets capital growth by investing in smaller companies based in countries bordering the North Atlantic, Wednesday said that it had mixed results against its points of comparison in a three-month period.
In a statement, the trust said that the sale of Sinav/GTL Resources completed at the beginning of June and earned it a "substantial" profit.
| Cumulative performance | |||||
| As at 31 May 2014 | 3 months % | 6 months % | 1 year % | 3 years % | 5 years % |
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Diluted NAV* | 2,121p | 2.0 | 13.7 | 21.3 | 41.7 | 119.3 |
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Mid-market price | 1,781p | 6.3 | 16.8 | 23.7 | 59.0 | 136.7 |
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Discount to diluted NAV * | 16.0% |
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Standard & Poor's 500 Composite Index ** | 1,148.1 | 3.4 | 4.1 | 7.0 | 40.4 | 102.2 |
Russell 2000 ** | 677.1 | (4.2) | (3.0) | 4.6 | 31.3 | 118.6 |
FTSE All-Share Index | 5,541.9 | 0.9 | 4.8 | 8.9 | 77.6 | 146.0 |
US Dollar/Sterling exchange rate | 1.6774 | (0.1) | (2.4) | (10.6) | (2.0) | (4.0) |
*Following the conversion of the Loan Stock, the performance is shown on the diluted NAV (excluding retained revenue for the period) only. The Board considers that this accurately reflects the underlying performance of the Company.
**Sterling adjusted.
TEN LARGEST INVESTMENTS AT 31 MAY 2014 Percentage of Portfolio
US Treasury Bills | US Treasury Bills | 17.4 |
Gleeson (MJ) Group | UK Listed | 12.7 |
Oryx International Growth Fund Limited * | UK Listed | 12.2 |
Trident Private Equity Fund III LLP | UK Unquoted | 9.6 |
Hampton Investment Properties Limited | UK Unquoted | 4.7 |
Celsis AG | US Unquoted | 4.1 |
Telecity Group | UK Listed | 3.5 |
Goals Soccer Centre | UK Listed | 3.4 |
Guinness Peat Group ** | UK Listed | 3.3 |
Bioquell | UK Listed | 3.0 |
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% of total portfolio |
| 73.9 |
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* incorporated in Guernsey ** incorporated in New Zealand
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SECTOR ANALYSIS OF INVESTMENTS AT FAIR VALUE AS AT 31 MAY 2014
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| United | United | Total |
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| States | Kingdom | % |
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| % | % |
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Investment Companies |
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| 22.3 | 22.3 |
Treasury Bills |
| 17.4 |
| 17.4 |
Construction & Materials |
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| 12.7 | 12.7 |
Travel & Leisure |
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| 6.1 | 6.1 |
Support Services |
| 1.0 | 4.5 | 5.5 |
Industrial Engineering |
| 5.0 |
| 5.0 |
Real Estate |
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| 4.8 | 4.8 |
Software & Computer Services |
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| 3.5 | 3.5 |
Health Care, Equipment & Services |
| 0.3 | 3.0 | 3.3 |
Financial Services |
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| 3.3 | 3.3 |
Food Producers |
| 2.9 |
| 2.9 |
Media |
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| 2.8 | 2.8 |
Banks |
| 2.7 |
| 2.7 |
Oil & Gas Producers |
| 1.1 | 0.9 | 2.0 |
Escrows |
| 1.2 | 0.2 | 1.4 |
General Retailers |
| 0.4 | 1.0 | 1.4 |
Technology Hardware & Equipment |
| 1.3 |
| 1.3 |
Industrial Transportation |
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| 1.0 | 1.0 |
Business Services |
| 0.6 |
| 0.6 |
The trust's shares were Wednesday quoted at 1,765.00 pence, up 0.3%.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.
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