Quarterly update for three months to 30 April 2017
- Share price Total Return of 5.7% for the quarter and 39.9% for the 12 months to 30 April 2017
- Net asset value per share Total Return1 of 0.6% for the quarter and 19.9% for the 12 months
- The Portfolio is valued at £541.1m at 30 April 2017 with underlying growth for the quarter of 2.3%
- Strong realisations of £76.1m outstripped £17.6m of new investments in the quarter. In the last 12 months realisations and new investments are broadly in balance at £132.3m and £128.5m respectively
- The Company continued to deliver on a key strategic objective to broaden its geographic diversification: UK exposure at 37.6% is down from 45.1% in the 15 months since the change of manager and US exposure of 24.0% is up from 14.1% over the same period.
- The performance of the Company remains strong over the short, medium and long term, with the share price outperforming the FTSE All-Share Index over one, three, five and ten years
- As previously announced, and in line with ongoing succession plans being implemented by the Board, Jeremy Tigue will take over as Chairman