Source: Trustnet
Gresham House Strategic has £57.4m in total assets, according to data from the Association of Investment Companies. It currently trades on a 6.4% discount, slightly better than the UK Smaller Companies average of 7.1%.
“The future growth of GHS is therefore limited due to the lack of availability of new funds for investment at a time when both several attractive investment opportunities exist, and GHS would be a benefit from taking larger stakes in some of its existing investments,” the board wrote.
The review will be conducted in conjunction with an independent financial adviser, which the board expects to appoint shortly, and is expected to be completed by the trust’s AGM in September.
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Investors cling to US ‘comfort blanket’ despite equity outflows
Investment Association data shows US equities witnessed net outflows of £1.6bn in Q1
Having seen inflows of close to £2.3bn in 2020, funds invested in US equities witnessed net outflows of £1.6bn in the first quarter of 2021, according to the Investment Association.
The bulk of those outflows took place in March, with the IA revealing investors redeemed a net £1.09bn from the IA North America sector. This made it the second least popular peer group behind Sterling Corporate Bond – which witnessed an outflow of £1.47bn for the month.
While some of this may be a result of profit taking following a very strong run for the US market, Laith Khalaf, financial analyst at AJ Bell Investments, says another factor may be at work.
Despite data showing an outflow of £1.6bn from US equities in Q1
Having seen inflows of close to £2.3bn ($3.25bn, €2.7bn) in 2020, funds invested in US equities witnessed net outflows of £1.6bn in the first quarter of 2021, according to the Investment Association.
The bulk of those outflows took place in March, with the IA revealing investors redeemed a net £1.09bn from the IA North America sector. This made it the second least popular peer group behind Sterling Corporate Bond – which witnessed an outflow of £1.47bn for the month.
While some of this may be a result of profit taking following a very strong run for the US market, Laith Khalaf, financial analyst at AJ Bell Investments, said another factor may also be at work.
BlackRock Smaller Companies Trust Plc - Final Results
PR Newswire
(Legal Entity Identifier: 549300MS535KC2WH4082)
Annual results announcement for the year ended 28 February 2021
PERFORMANCE RECORD
1,2
1,2
1,2,3
1
12.80p
20.50p
33.30p
960,900
2 Alternative performance measures, see Glossary contained within the annual report.
3 The basis of calculation for the fair value of the debt is disclosed in note 10 to the financial statements contained within the annual report and the calculation of net asset value per share (debt at fair value) is included in the Glossary contained within the annual report.
4 Ongoing charges ratio calculated as a percentage of average daily net assets and using the management fee and all other operating expenses, excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain non-recurring items, in accordance with AIC guidelines.