Jupiter Green Investment Trust PLC on Monday posted a narrow rise in its net asset value per share, and said its total NAV return outperformed its benchmark index.
Jupiter Green is an investment firm focused on companies which have a significant focus on environmental solutions.
Jupiter's net asset value per share increased to 258.58 pence as at March 31 from 258.43 a year ago. The NAV total return in the year ended March 31 was negative 0.4% whilst its benchmark, the MSCI World Small Cap Index, posted a negative return of 3.1%.
"It is encouraging that the absolute return of the portfolio over the 12-month period was positive, although this should be viewed in the context of a volatile year for equity markets, in particular environmental solutions companies, in the face of significant macro and geopolitical headwinds, and one in which the NAV of the company sharply recovered from the lows in 2022," said Chair Michael Naylor.
The company declared no dividend, unchanged from last year.
Jupiter Green said its investment in green technologies will be critical to global development as governments contend with global warming.
"As attitudes toward addressing climate solutions shift, there is a broadening of the value chain beyond the conventional lens. The opportunities throughout the market that this creates will be plentiful and we firmly believe the Jupiter Green Investment Trust remains well-positioned to identify them," said Chair Naylor.
Jupiter Green shares were 0.5% lower at 206.00 pence each in London on Monday afternoon.
By Will Neill, Alliance News reporter
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Jupiter Gr. (JGC)