Miton UK MicroCap Trust has announced its first set of results, covering the six month period ended 31 October 2015. The net asset value rose from 49.0p on 30 April, (the 50p per share issue price less the costs of the issue) up to 52.42p on 31 October 2015. This is an appreciation of 7.0%. The Trust has grown during the period, in part down to the performance outlined above, and in part due to the issuance of an additional 9.99m shares in August and September. At the end of the period the overall assets in the Trust were £57.7m. The share price of the Trust has appreciated from 50.0p at the issue to 56.0p at the end of October. This represents a 12% return in the period. The dividend income accrued during the initial six month period was modest, and largely offset by the Trust’s running costs, so no interim dividend has been declared. It is anticipated that the overall revenue surplus after costs for full year will also be modest.
There is no performance attribution in the manager’s report
MINI : Miton UK MicroCap reports 7% return in first six months