Athelney Trust’s results for the year ended 31 December 2014 show its net asset value rising by 4% to 228p. The dividend is being increased by 21.8% from 5.5p to 6.7p. The total return was 6.5% – ahead of the 6.2% return on the Fledgling Index and well ahead of the -1.5% return on the FTSE Small Cap. Index and the -17.8% return on the AIM All-Share Index.
The report looks at the economic and political background in some detail. The portfolio benefitted from takeovers of Abbey Protection and ACM Shipping. Abbey Protection made them 27.2% on cost. There’s no other indication of what drove the fund’s good performance.
ATY : Athelney Trust delivers positive performance in a difficult market