Seraphim Space Investment Trust PLC on Thursday said the next year will be ‘significantly influenced’ by US policies as it posted an increased net asset value.

The London-based space technology investor reported a 6.8% increase in its net asset value to £239.7 million in the six months to December 31, from £224.3 million a year prior.

Its portfolio valuation rose 9.3% over the period to £216.3 million from £198.0 million.

The trust saw its discount narrow to 46.2% from 63.6%, as its share price improved to 54.4p from 34.4p. Its shares closed up 4.2% at 55.00p on Thursday in London.

Looking ahead, Chief Executive Mark Boggett said: ‘The next 12 months will be significantly influenced by the new US administration’s policies, particularly concerning tariffs and European security’.

The transformation in defence spending along with revised procurement practices ‘will undoubtedly benefit ’new space’ companies’, continued Boggett.

Chair Will Whitehorn added: ‘Amidst the current tumultuous times on the global front, one thing stands clear: that space will increasingly be at the forefront of government defence spending in both the US and Europe.

‘Notwithstanding the turbulence in world events and the resulting volatility in public markets, we anticipate that the year ahead should be one of great opportunity for our portfolio.’

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