IN BRIEF: Strategic Equity Capital NAV rises, lags benchmark

Strategic Equity Capital PLC - trust investing in small-cap UK stocks, managed by Gresham House PLC - Reports net asset value per share increased 46% in the 2021 financial year, to 350.05 pence on June 30 from 239.74p a year prior. NAV total return 47%, lagging the benchmark FTSE Small Cap (ex Investment Trusts) index, which returned 65%. Swings to pretax profit GBP70.6 million in recent year from a loss of GBP15.3 million in financial 2020. Declares final dividend per share 1.60p per share, up from 1.25p. Says UK stocks are still relatively cheap, adding "the evolution of the company's portfolio over the past year has set it up to prosper in this low interest rate environment."

Current stock price: 298.00 pence

Year-to-date change: up 28%

By Ivan Edwards; ivanedwards@alliancenews.com

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Strategic Eqty