(Alliance News) - Amati AIM VCT PLC on Friday said its net asset value per share was down as it underperformed against its benchmark index in the first half of its financial year.
The Edinburgh-based investment company said net asset value per share at July 31 was 110.0 pence, down 25% from 146.5p a year ago, and 17% from 132.8p at the end of its financial 2022 at January 31.
It said rising interest rates and high inflation during the first half negatively impacted its performance, with larger portfolio holdings being de-rated.
The firm said NAV total loss narrowed to 14.6%, from a loss of 16.4% a year ago, and 22.2% at January 31. It noted that its benchmark, the Numis Alternative Markets Index, saw a total loss of 11.3%.
Amati said net asset value was GBP166.4 million at the end of the first half, down from GBP222.5 million a year ago, and from GBP201.3 million at January 31.
The company declared an interim dividend of 2.5 pence per share, down 29% from 3.5 pence per share the year prior. It said this dividend is in line with its aim to pay an annual dividend at 5% of net asset value.
Amati shares rose 0.5% to 94.99 pence each on Friday morning in London.
By Harvey Dorset, Alliance News reporter
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Amati Aim Vct (AMAT)