LONDON (Alliance News) - Acorn Income Fund Ltd Friday said its net asset value per share increased 2.62% between December 31 and April 30, and the total return to ordinary shareholders was 2.89%.
The fund, which has an objective of providing shareholders with high income and the chance of capital growth, said its figures compared against a 0.09% decline in the Numis Smaller Companies (ex investment companies) Index.
The company's investments are held in two portfolios, comprising investments in equities and fixed interest securities.
Approximately 70% to 80% of the company's assets are invested in smaller capitalised UK companies, admitted to the official list of the Financial Conduct Authority and traded on the London Stock Exchange or traded on the Alternative Investment Market at the time of investment.
The company also aims to enhance income for ordinary shareholders by investing approximately 20% to 30% of its assets in high yielding instruments which are predominantly fixed interest securities but may include up to 15% of its overall portfolio, measured at the time of acquisition, in high yielding investment company shares.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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