24th Apr 2014 13:17
LONDON (Alliance News) - The Scottish Oriental Smaller Companies Trust PLC Thursday said its net asset value declined by 2% in the first half of the year, and underperformed its benchmark.
In the six months ended February 28, the trust said its net asset value per share declined 2% to 785.8 pence, down from 869.49 pence a year earlier. Its benchmark, the MSCI AC Asia ex Japan Index, reported a decline of 1%.
However the trust said its share price rose 2.2% in the period, to 750.00 pence.
The trust's investment objective is to achieve long-term capital growth by investing in mainly smaller Asian quoted companies with market capitalisations of below USD1.5 billion at the time of investment.
Shares in the trust were up 0.1% at 778.25 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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