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JPMorgan UK Smaller Cos Investment Trust PLC on Thursday said its net asset value fell as it posted a negative return. The trust giving access to growing smaller companies in the UK reported that net asset value per share at July 31, the end of its financial year, decreased to 310.3 pence, from 333.7p the year prior. The firm said net asset total loss was 5.0% during the financial year. It said it has faced increasing cost pressures throughout the year, which it said has coincided with its decreasing asset value. The company declared a total dividend of 7.7 pence per share, increasing from 6.9p the year prior. Looking forward, the firm said it is hearing ‘positive’ messages, noting that smaller companies are ‘successfully navigating their way through the headwinds of cost inflation, labour inflation, labour shortages and higher interest costs’. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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