Statement re Financial Highlights

RNS Number : 6063A

Acorn Income Fund Ld

22 March 2013

 



ACORN INCOME FUND LIMITED (the "Company")

FINANCIAL HIGHLIGHTS

-     The Company was the top performing listed investment company in 2012 with a total return from the Ordinary Shares 60.5%⁽¹⁾.

-     Dividends for the year totalled 12p and were covered by earnings.

-     The Company's discount to NAV narrowed over the course of 2012. At the year end, the package discount (the combined net discount of the Ordinary Shares and ZDP Shares) was 0.5%

-     The Company's long term performance record is excellent. Measured on NAV total return, the Company's Shares have out performed all other listed funds in the UK growth and income, high income, smaller company and mid cap sectors over one, three, five and ten years. ⁽²⁾

-     The Company will separately be announcing its intention to post a circular with proposals to convene an EGM to seek shareholder approval for the issue of new Ordinary and new ZDP Shares. The proposals for further share issuance have been prepared to enable the Company to meet anticipated demand given the Company's strong investment performance.

OUTLOOK

The Company's Manager and Investment Advisor expects the smaller company portfolio, with its focus on companies with well covered dividends, strong balance sheets and a high proportion of overseas earnings, to benefit as investors seek real returns from equities in a continuing low interest rate environment.

⁽¹⁾ Source: Winterflood Investment Trusts Annual Review.

⁽²⁾ Source: Numis Investment Companies Research based on data to 24/02/2013.

For further information contact:

Numis Securities Limited

Corporate Broker

Tel: [phone]

Anson Fund Managers Limited

Secretary

Tel: [phone]

22 March 2013

E&OE - in transmission

 

END

 

 

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