3rd Nov 2016 16:32
LONDON (Alliance News) - Octopus AIM VCT PLC Thursday saw net asset value rise in its first half, although it lagged behind comparative indexes.
The trust said its net asset value increased by 8.2% in the half year to the end of August, after adding back the 2.5 pence paid out in dividends during the period.
During the same period the FTSE SmallCap excluding Investment Companies rose by 12%, the FTSE All Share Index by 10.5%, and the FTSE AIM All Share Index by 15.1%.
"Smaller Companies performed better than the FTSE 100 for much of the period although the latter enjoyed a surge based on its high percentage of overseas earnings once sterling had devalued as a result of the Brexit vote. The cautious tone of the market impacted the share prices of early stage companies not yet making a profit, of which we hold a number in the portfolio, particularly in the pharmaceutical, medical device and technology sectors," Octopus AIM VCT said in a statement.
It proposed an interim dividend of 2.5 pence, compared to 2.8 pence the year before.
Shares in Octopus AIM VCT were untraded Thursday, last closing at 101.75 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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