JPMorgan Mid Cap Investment Trust PLC - investment trust focused on medium-sized UK companies in the FTSE 250 index - Says its total return on net assets in the six months ended December 31 was 3.0%, marginally ahead of the company's benchmark index, the FTSE 250, which returned 2.8% over the same period. At December 31, the company's NAV per share was 994.3 pence, up from 988.8p at June 30, but down from 1,508.4p at the same time a year prior. It records a net return on investment of GBP5.6 million in the half, compared to a net return of GBP18.6 million the year prior. Looking forward, JPMorgan Mid Cap says the next 12 to 18 months provides reasons to be more optimistic, as it predicts a mild recession in the UK in 2023.
The trust declares an interim dividend of 8.0p to be paid on April 25. The ex-dividend date will be March 16.
Current stock price: 947.80p, down 1.7% in London on Friday
12-month change: down 22%
By Heather Rydings, Alliance News senior economics reporter
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