Aberforth Smaller Cos Trust PLC - invests in UK smaller companies looking to outperform the Numis Smaller Cos Index - Net asset value per share ends June 30 at 1,373.14 pence, sliding from 1,674.35p six months earlier. Declares interim dividend of 12.05p, up 10% on the 10.95p distributed the year prior.

‘Investment returns in most stockmarkets around the world were negative in the first half of 2022,’ it says, adding: ‘ASCoT was caught up in the general malaise.’

Net asset value total return is negative 16.8% in half year, while share price total return is negative 18.4%. The total return of the Numis Smaller Cos Index, excluding investment companies, is negative 20.2%.

‘Russia’s shocking invasion of Ukraine has accentuated the lingering economic effects of the pandemic. Supply chains have been put under additional pressure and energy prices, already rising as demand recovered from the pandemic, have reached levels that threaten household budgets and business profitability alike,’ it explains.

Current stock price: 1,214.00 pence, down 2.4% on Tuesday

Year-to-date change: down 19%

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