Smithson Investment Trust notes "disappointing 12 month performance"

(Alliance News) - Smithson Investment Trust PLC's chair on Thursday described a "disappointing 12 ...

Alliance News 6 March, 2025 | 6:20PM
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(Alliance News) - Smithson Investment Trust PLC's chair on Thursday described a "disappointing 12 month performance" as it underperformed its comparator index.

The London-headquartered trust, which focuses on long-term investments in small to mid-sized companies worldwide, said net asset value per share increased 2.1% to 1,631.80 pence on December 31 from 1,598.00 pence at the end of 2023.

NAV total return per share was 2.1%, down from 13.3% in 2023. The return missed the total return of the comparator index, the MSCI World SMID Cap, at 11.5%.

For the first time, the trust declared a dividend of 0.58 pence per share, to be paid on May 2, in order to retain its investment trust status given its positive accumulated balance.

"This marks the company's first-ever dividend payment. However, given the nature of its investments, shareholders should not anticipate a substantial annual dividend in the future," the company said.

Smithson Investment Trust said the new year has "started positively", with NAV up 5.9%, 4.8% ahead of the comparator index for the period to February 28.

Chair Mike Balfour said: "The board believes that the strategy of identifying and owning high quality small and mid-sized companies that are capable of sustainable growth and that can compound in value over many years, will perform well for investors over the long term and through different economic conditions."

Smithson Investment Trust shares were flat at 1,516.00 pence in London on Thursday afternoon.

By Michael Hennessey, Alliance News reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Smithson Investment Trust Ord 1,516.00 GBX 0.00

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