New Century AIM VCT 2 PLC - London-based venture capital trust investing in AIM-listed companies - Posts sharp drop in net asset value as supply chain issues, interest rate rises, and inflation hits valuations. NAV per share falls by 52% year-on-year to 59.7 pence as at June 30 from 90.7p. Compared to December 31, NAV per share falls by 28%, the same as its benchmark, the FSTE AIM Allshare index.
"It has a been a particularly tricky period for the fund as investors became nervous of inflationary pressures, interest rate rises, constrained supply chains and the war in the Ukraine all caused a general lack of appetite and liquidity in many small companies," says Chair Geoff Gamble.
Current stock price: 62.00 pence
12-month change: down 14%
By Tom Budszus; tombudszus@alliancenews.com
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