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North Atlantic Smaller Cos beats index

By BFN News | 01:22 PM | Tuesday 28 September, 2010

North Atlantic Smaller Companies Investment Trust's net asset value rose by 14.2% in the six months to the end of July. This compares with a 4.5% rise in the Standard & Poors Composite Index on a sterling adjusted basis. Income for the period amounted to £1,880,000 (31 January 2010: £443,000; 31 July 2009: loss of £105,000). During the six month period the company purchased for cancellation 1,139,000 ordinary shares and 1,085,000 convertible loan notes. These securities were purchased at a significant discount to the net asset value and therefore benefited the net asset value of the trust. Story provided by

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