AIM investment trust sees asset values climb
A YORKSHIRE-BASED venture capital trust which specialises in investing in AIM companies has seen its net asset value increase by almost a quarter in the last six months thanks to the recovery in the stock market.
The Rensburg Aim VCT, which is managed by Leeds-based financial specialist Rensburg Sheppards, saw its net assets increase to £19.93m in the six months to August 31, from £16.72m at the end of February.
However the funds assets were £23.56m a year ago.
Chairman Bill Cran, said: “This has been a much more rewarding period for the company, with a solid increase in NAV and dividend, than the corresponding period last year.
“With a well balanced portfolio of AIM stocks, fixed interest and blue-chip investments, the company should perform satisfactorily in the second half.”
Mr Cran said that the fund, which is managed by experienced Leeds-based investment specialist Barry Anysz, would increase its interim dividend by 25% to 1.25p.
In the six months to August 31, the FTSE 100 Index and the FTSE All-Share Index increased by 28.2% and 30.6% respectively, whereas the FTSE AIM All-Share Index increased by 52.4%.
Mr Cran added: “Neither of these indices are perfect benchmarks for our own performance as so few of the size and type of company in which we can invest are represented in either index.”
During the period the fund sold shares in several investments in Connaught, Fountains, Claimar Care and Advanced Computer Software and has recently received an offer, which it has conditionally accepted, for its entire investment in Essentially Group.
