NAV 226.7p10 Nov 2023 10:31
Alliance News) - AVI Global Trust PLC on Friday reported an increased net asset value and "pleasing" total return for its latest financial year, and proclaimed its optimism for the long-term future.
The Exeter, England-based investor said its NAV at September 30 was 226.77 pence per share, up from 199.76p at the same time one year prior.
AVI Global shares were down 0.6% at 200.80p each on Friday morning in London.
The NAV total return for the year ended September 30 was positive 15.3%. Chair Graham Kitchen described the result as "pleasing", and it was much improved from the previous year's negative 7.3%.
AVI Global's comparator benchmarks, the MSCI All Country World Index and the MSCI All Country World ex-US Index, delivered positive 10.5% and positive 10.1% respectively.
AVI Global, which backs family-controlled holding companies, closed-end funds and asset-backed opportunities, reported investment income of GBP24.5 million for the year, up from GBP23.1 million. Total earnings per share increased to 28.02p from 22.06p.
AVI Global declared a final dividend of 2.3p per share, up from 2.1p the prior year, and also announced a special dividend of 0.2p per share. These brought the total financial 2023 payout to 3.70p per share, up from 3.30p for financial 2022.
Going forward, Chair Kitchen commented: "The geopolitical and economic environment are undoubtedly challenging and the world is likely to be unstable for some time."