13th Jun 2025 11:10
(Alliance News) - River UK Micro Cap Ltd on Friday announced a lower net asset value per share as it beat its comparative index, while noting a depressing starting valuation for UK small and micro companies.
The London-based advisory and asset management company focused on companies with market caps under GBP100 million said net asset value per share fell 2.4% to GBP1.99 as at March 31, from GBP2.03 at September 30, 2024.
NAV total return was minus 2.4% in the six months to March 31, outperforming its comparative index, the Numis Smaller Companies plus Alternative Investment Market excluding investment companies index, which had a total return of minus 7.4%.
The company said that US President Donald Trump's "global tariff war has driven heightened volatility. It is important to reappraise investment risk and opportunities in this new environment."
Meanwhile, UK smaller companies experienced a "massive" relative de-rating over the last five years, River UK added.
Fund Manager George Ensor noted a "remarkably depressing starting valuation for UK small and micro companies," but added the company retains its view "that there is scope for further positive structural reform to support domestic growth and investment which seem critical to the Labour manifesto. Imminent updates on North Sea Oil and Gas regulation, pension reform and individual savings accounts should provide insight as to what the government is willing to do to enable growth. "
River UK shares were 1.0% lower at 181.68 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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