LONDON (Alliance News) - Standard Life Equity Income Trust PLC on Thursday said that its last financial year was a "very successful" one.
Its diluted net asset value total return, which is calculated on the assumption that all the subscription shares in issue have been converted into ordinary shares and includes the change in net asset value per share plus the dividends paid during the year, was 14.1% in the year ended September 30.
That return was the second-best result in the last decade, the trust said.
The FTSE All-Share index loss 2.3% on a total return basis over the same 12 months, the trust said.
"Our portfolio consists of shares in companies which we believe have good prospects, prospects which are not fully appreciated by investors, Chairman Richard Burns said in a statement.
"Despite the many global economic and political uncertainties, I am therefore confident that our portfolio will continue to produce satisfactory results, even if those results are unlikely to be as spectacular as those I have the good fortune to be reporting to you this year."
Shares in the trust were down 0.5% at 453.88 pence on Thursday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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