logo-loader
Finance
Smithson Investment Trust

Terry Smith's Smithson outperforms benchmark in first half but issues cautious outlook

Smithson said it remains "positive on the outlook" for global small and mid-cap equities in the medium to long term but political uncertainty might impact the market in the short term.

Smithson Investment Trust -

Terry Smith’s Smithson Investment Trust PLC (LON:SSON) achieved growth in its share price and net asset value per share total return in the first half of the year that outperformed the benchmark.

The global small and mid-cap trust, which floated on the London Stock Exchange last October, said its NAV per share total return was 27.6% for the six months to the end of June,  compared to the MSCI World SMID Index return of 17.2%

The share price total return for the period was 23.4%.

Its NAV and share price returns have risen 20.3% and 23.4%, respectively, from the date it started trading to the end of June.

The company made no new investments or divestments during the first half, ending the period with 29 investments.

The group closed the period at a premium to NAV of 2.6%.

Chairman Mark Pacitti said: “The board remains positive on the outlook for global small and mid-cap equities in the medium to long term but realises that politics and other macroeconomic factors might affect market movements in the short term.”

Ahead of its successful start to trading in London, Smithson had raised £822.5mln, beating the previous £800mln record set by Neil Woodford’s Patient Capital trust in 2015.

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: Jersey Oil & Gas picks up more North Sea acreage

Headlines from the Proactive UK newsroom. Jersey Oil & Gas (LON:JOG) has been awarded more acreage in the North Sea. Block 21/2a contains the Glenn oil discovery and adds a further 14 million barrels to Jersey’s North Sea reserves. Union Jack Oil (LON:UJO) says operator Raithlin Energy...

20 minutes ago

2 min read