Global Opportunities Trust PLC on Wednesday announced a steady dividend as it reported a tepidly growing net asset value amid high inflation.
The company focused on long-term returns via investing globally in undervalued asset classes said net asset value per share edged up 0.2% to 364.1 pence as at December 31, from 363.2p a year prior.
The firm’s NAV total return was 1.7% in 2023, sharply lower from 15.8% in 2022 and underperforming against the FTSE ALL-World total return index, which had a return of 15.7% for 2023.
Global Opportunities maintained its dividend at 5.0 pence per share for 2023.
Looking ahead, the company said it hopes that a meaningful recession in the US will be avoided, citing higher oil prices and inflation since the full-scale war in Ukraine which started in February 2022.
Chair Cahal Dowds said: ‘If the global economy were to follow normal historic patterns, then there will be significant scope for negative corporate profit outcomes, which would quickly puncture the current prevailing sanguine view of equity markets. Against this backdrop, the company has retained a broadly similar structure to last year in anticipation of new opportunities arising.’
Global Opportunities shares rose 1.0% to 294.00 pence each on Wednesday morning in London.
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