News Column

F&C Global Smaller Companies Net Asset Value Rises In Recent Year

June 16, 2014

Samuel Agini



LONDON (Alliance News) - F&C Global Smaller Companies PLC Monday said its net asset value per share increased in its last financial year, while its share price rose 9.9% to 840 pence, despite progress in the second half being more modest than in the first.

F&C Global Smaller Companies shares Monday closed at 864.80 pence, up 0.03%.



In a statement, F&C Global Smaller Companies said its NAV per share rose by 11.3% to 841.78 pence, with the company's debenture valued at nominal value, in the year ended April 30.



The NAV return for the year on a total return basis, with the company's debenture at nominal value, was 12.3%, against 12.6% when  incorporating the debenture at fair market value.



The company's benchmark, a blended index of the returns from the MSCI All Country World ex UK Small Cap Index, representing 70%, and the Numis UK Smaller Companies, excluding investment companies, Index, representing the remaining 30%, produced a total return of 12.4%.

 

Period

3 years

5 years

10 years

NAV total return

42.7%

143.9%

235.2%

Share Price total return

48.0%

172.3%

324.7%

Benchmark

32.0%

125.5%

186.7%

Source: F&C Management Limited & Datastream.

Meanwhile, the company said it has decided to cancel its secondary listing on the New Zealand Stock Exchange due to dwindling numbers of shareholders on the register.

"As markets rise, it becomes harder by definition to be as confident about the prospect for further near-term progression. Nevertheless, the board feels that the medium-term prospects for growth in a global smaller company mandate remains bright, continuing to offer the potential for investors to gain exposure to some of the best equity growth stories of the future," Chairman Anthony Townsend said in a statement.








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Source: Alliance News


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