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(Alliance News) - Invesco Perpetual UK Smaller Cos Investment Trust PLC on Friday said it outperformed its benchmark in the first half of its current financial year.
The investment company reported NAV per share of 546.4 pence as at July 31, up 13% from 481.8p on January 31.
The trust's shares were trading at 511.0p at the end of July, representing a 6.5% discount to NAV, narrowed from 3.5% discount at the end of January. The total return to shareholders was 12%.
The stock was trading 1.1% lower on Friday in London at 529.94p a share.
Invesco Perpetual UK's NAV total return in the first half of its current financial year totalled 16%, while its benchmark, the Numis Smaller Cos Index excluding Investment Cos, returned just 3.6%.
The trust declared a first interim dividend of 3.75p for the year to the end of January 2020, up 2.7% from 3.65p paid a year prior.
"The outcome of Brexit negotiations and clarity around international trading relations continue to create uncertainty and risk of significant economic set back," said Chair Jane Lewis.
"The company's portfolio managers continue with their investment strategy to invest in good quality, growing and well managed companies and with the breadth and diversity of the smaller companies sector, they continue to find attractive investment opportunities," added Lewis.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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