We are conducting routine maintenance on portfolio manager. We'll be back up as soon as possible. Thanks for your patience.

Scottish Oriental net asset value rises as touts "exciting" outlook

(Alliance News) - Scottish Oriental Smaller Cos Trust PLC on Thursday said that Taiwan and Korea ...

Alliance News 15 November, 2024 | 2:08PM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - 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.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Scottish Oriental Smaller Cos Ord 1,439.00 GBX 0.28

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures