By HARVEY DORSET, This is Money, 6 February 2024:
Seraphim Space Investment Trust climbed to new heights in January, marking itself as the best performing investment trust of the month as its returns skyrocketed 49.4 per cent.
The trust, which invests in early-stage space technology firms, reversed losses in the latter part of 2023, which saw its share price fall by nearly half.
The trust’s shares have been relatively turbulent, having also tumbled back in July 2023.
James Carthew, head of investment companies at QuotedData, told This is Money: ‘Seraphim Space Trust’s share price has been quite volatile, reflecting the relatively small number of shares that are actively traded as most investors at launch were in it for the long term and happy to sit tight.’
The strength of Seraphim comes despite the failure of Satellite Vu’s HotSat-1 climate satellite, which Seraphim helped the firm raise funds for, just six months into its orbit.
Carthew noted that this news was somewhat mitigated by the satellite’s insurance protection.
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