In QuotedData’s morning briefing 26 February 2025:

• Strategic Equity Capital (SEC) announced its interim results for the six months to 31 December 2024. The company’s NAV total return fell 8.8% while the share price total return was down 8.5%. The benchmark smaller companies index delivered a positive return of 5.2% over the same period. The underperformance relative to the reference index was primarily due to the portfolio’s exposure to AIM quoted companies, accounting for c.65% of NAV as at 31 December 2024, which experienced broad valuation de-rating during the period due to negative sentiment around the 2024 Autumn Budget. Commenting on the results, chairman William Barlow noted: “While the returns for the six-months to 31 December 2024 are disappointing, the concentrated nature of the Company’ portfolio can result in uneven performance. To illustrate this point, in the year to 30 June 2024, the Company’s share price total return was 19.2% versus the FTSE Small Cap Index of 18.5% over the same period. And for the year ended 30 June 2023 the figures were 11.2% and (0.4)% respectively. Despite this volatility of returns over specific short-term timeframes, and the challenging performance in the six months to 31 December 2024, the longer term performance of the Company compares more favourably to its reference index.”
• Invesco global equity income trust (IGET) announced its interim results for the six months to 30 November 2024. The NAV total return per share increased 10.7%, compared with the company’s benchmark, the MSCI World Index total return of 11.4%. The share price total return was 10.1% over the same period. This continues the company’s strong momentum, with the company delivering an annual NAV and shareholder total return return to 31 May of 21.0% and 26.9% respectively. Chair, Sue Inglis, noted that the company’s strong longer-term performance was recognised in November 2024 when, for the second consecutive year, it won the ‘Best International Income Trust’ category at the annual Citywire Investment Trust Awards, which are given to investment companies judged to have delivered the best underlying return in terms of NAV growth in the three years to 31 August.

We also have:

Riverstone Credit Opportunities Income makes progress on managed wind down

abrdn Diversified Income and Growth provides update on managed wind-down

Harmony Energy Income Trust looking to put challenges behind it

Hammerson turnaround continues with record year of leasing

Did you see from Tuesday:

Unite Group buoyed by strong university demand

The Renewables Infrastructure Group continues to navigate challenging market environment