Scottish American has reported results for the year ended 31 December 2016. Its net asset value total return (capital and income) for the year was 29.9% and the share price total return was 28.7%. The total return from the global equity market was 29.6%. A final dividend of 2.725p is recommended which will take the full year dividend to 10.825p per share, 1.2% higher than the 2015 dividend of 10.70p.
There is no report from the managers in the announcement which is disappointing. This should be included within the annual report when that is published in a few days time. The chairman does say that the managers have done well to beat the benchmark given that the fund has greater exposure to sterling assets, and hence the weak pound, than the index.
SCAM : Scottish American just ahead of benchmark in 2016