(Alliance News) - Baillie Gifford US Growth Trust PLC on Thursday reported a lower net asset value in the financial year that ended May 31, but remained optimistic about its outlook.
The UK-based investor in US-based companies said NAV per share as at May 31 was 186.33 pence, down 2.7% from 191.44p each a year prior.
The company recommended no final dividend due to a revenue deficit, unchanged from the year before.
As a result, NAV total return also was negative 2.7%, underperforming against the S&P 500 index, which had a total return of positive 4.7%.
Looking ahead, Chair Tom Burnet said the company remains confident in its outlook as "the board continues to believe that the companies we hold are very well placed to generate extremely attractive returns to investors over the long term."
Baillie Gifford US Growth Trust shares were 0.9% higher at 157.18 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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Baillie Gifford (USA)