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Scottish Oriental Smaller Cos Trust PLC on Thursday said that Taiwan and Korea have witnessed increased investor enthusiasm amid opportunities provided by artificial intelligence. The investment firm focused on smaller Asian listed companies said net asset value per share jumped 17% to 1,709.53 pence as at August 31 from 1,455.58p a year ago. NAV total return per share was 18.6% in the financial year ended August 31, outperforming the FTSE All-Share Index which had a total return of 17.0%. Scottish Oriental proposed a final dividend of 14p per share, up 7.7% from 13p a year ago. Further, it proposed a special dividend of 8.0p per share, compared to none a year prior. ‘Taiwan and Korea have witnessed increased investor enthusiasm about the opportunity provided by artificial intelligence, reflected in the increase in valuations across several parts of the investment universe. These opportunities are yet to be seen in the performance of businesses. Our experience suggests that periods of technological disruption such as this usually come with low levels of predictability about the eventual winners,’ the firm said. Looking ahead, the company said: ‘The outlook for Scottish Oriental’s portfolio is exciting. The portfolio has been further consolidated among our highest conviction holdings, with the top 20 now comprising 65.7 per cent weight.’ Scottish Oriental Smaller shares were 0.7% higher at 1,445.00p each on Friday afternoon in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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