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Schroder UK Public Private Trust annual NAV sinks 29%
StockMarketWire.com
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Investment group Schroder UK Public Private Trust posted a negative annual performance in what it described as a 'turbulent' year.
The trust's net asset value for the year through December fell 29% to 35p per share, while its share price fell 19%.
'The disappointment of some of the valuation writedowns in the portfolio should not detract from the progress which has been made by Schroders during the year under review,' it said.
The company had been attempting to ensure that value-creating portfolio companies received an appropriate level of strategic support, wihle also seeking to pay down the debt.
'Both objectives were designed to place the company in a position to rebalance the sector and company weightings over the longer term,' it added.
'A significant amount of groundwork was laid during the year and some evidence of this has been seen in a number of positive announcements made since the year end.'
'We believe that the company is in a much better position now than it was a year ago.'
'Despite the challenges from the pandemic in 2020, our portfolio manager has been successful in carrying out the strategy for 2020 with the most critical progress being made on the debt.'
At 9:32am: (LON:SUPP) share price was 0p at 28.63p
Story provided by StockMarketWire.com
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