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Acorn Income Fund Ups Interim Payout Following Increase In Net Assets

Mon, 19th Aug 2019 08:45

(Alliance News) - Acorn Income Fund Ltd on Monday said its net asset value improved by 9.7% in the first half of 2019.

The investment firm reported NAV per share as at June 30 of 421.93 pence, compared to 384.61p reported at the end of 2018.

The trust's share rice at the end of the period stood at 380.00 pence, representing a 9.9% discount to NAV. A narrowing of the discount to net asset value over the first half provided a further uplift in return. The ordinary share price total return was 15.5%.

The stock was trading 2.5% lower on Monday in London at 326.00p a share.

Acorn upped its interim payout by 5.1% to 10.40p, having last year paid 9.90p per share dividend.

"The first half of 2019 has seen a positive bounce back from a disappointing 2018," said Chair Nigel Ward.

"We still believe in the long term attractions of our overall investment strategy and have confidence in our Investment Advisers to steer our asset allocation and stock and alternative income strategy selection," added Ward.

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