22nd Feb 2016 08:32
LONDON (Alliance News) - Standard Life UK Smaller Companies Trust PLC on Monday said it is confident in its outlook over the long term, despite "volatile and challenging" world markets since the start of 2016.
"We expect the portfolio to continue to deliver strong earnings and dividend growth," Chairman David Woods said.
The comments came as the trust said its diluted net asset value total return was 15.2% for the six months ended December 31.
That beat the -1.0% total return for the trust's benchmark, the Numis Smaller Companies Index (excluding Investment Companies).
"This remarkable outperformance over the benchmark... is very pleasing and has been achieved in a period where stock markets have proved challenging," Woods said.
Shares in the trust were up 2.7% at 340.00 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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