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North Atlantic Smaller Cos Investment Trust PLC - seeks capital appreciation from investment in a portfolio of smaller companies principally based in countries bordering the North Atlantic Ocean - Falls short against its benchmark index for its recently ended financial year.
As at January 31, the trust's net asset value per share rose 9.2% to 5,779 pence from 5,292p on the same date the year before. The trust underperformed against the sterling adjusted S&P 500 Composite index, which returned 24%.
No dividend proposed for financial 2021, unchanged from year before.
Chair Charles Wake says: ‘Many well known technology companies such as Netflix, Peloton, Tesla and PayPal are experiencing deteriorating performance. However, the majority of businesses worldwide are experiencing rising commodity prices, supply chain disruption and escalating labour costs. Businesses are therefore attempting and largely succeeding in putting through price increases although whether this will be sufficient to maintain profit margins is by no means certain.
‘The geopolitical position is, to say the least, uncertain. The war in Ukraine makes daily news and has had a severe impact on world markets since the end of our financial year but other flashpoints include Iran and Taiwan any one of which could further unsettle equity markets.’
Current stock price: 3,860.00p
Year-to-date change: up 4.9%
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