Glb Sml Co Trst Share News (GSCT)

(Alliance News) - Global Smaller Cos Trust PLC on Tuesday reported a decline in its net asset value amid a "challenging time for the portfolio".

The investor in "some of the world's most exciting smaller businesses" underperformed its benchmark.

"Relative to local small cap market returns, performance in the UK and Europe was disappointing, and actions which have been taken to address this," the firm said.

Global Smaller's net asset value per share fell 6.4% to 164.67 pence at its April 30 year-end from 175.88p 12 months prior.

Shares in the company were down 0.5% to 160.80p in London on Tuesday morning.

The net asset value total return was negative 4.8%, worse than the negative 0.8% return of its benchmark and the 9.0% positive return achieved by the trust in financial 2024. Its benchmark is a blend of the MSCI All Country World ex UK Small Cap Index and the Deutsche Numis UK Smaller Companies Index.

Global Smaller declared a 2.30p per share final dividend, a rise of 8.0% from 2.13p. It means its total dividend for the year is 3.00p, up 6.8% from 2.81p. It is its 55th successive dividend hike, the trust said.

"The outlook for the world economy is complicated by the presence of numerous crosscurrents. What seems clear is that uncertainty is likely to remain high and there is a wide range of potential future outcomes," the firm said.

"Although last year was a difficult year, the board is reassured that the portfolio is well diversified by sector and geography and the manager is very well resourced."

By Eric Cunha, Alliance News news editor

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