Edinburgh Smaller Companies investment trust continues to reduce gearing from a high of 53.5%, the p...
Edinburgh Smaller Companies investment trust continues to reduce gearing from a high of 53.5%, the position it held in the immediate aftermath of 11 September.
The £124m trust, the ninth largest in the 37-strong UK Smaller Companies sector, issued its results to 31 December last week, which showed that it currently has gearing of around 30.6%.
The board and manager Alistair Currie of Edinburgh Fund Managers are aiming to bring that down further to below 25%.
The trust's NAV fell by 27.8% in the year to 31 December, compared to a fall of 8.8% in its benchmark, the Hoare Govett Smaller Companies ex-investment trusts index.
According to Bloomberg, the trust's share price is up by 39.98% in the five years to 31 January this year, outperforming the FTSE SmallCap ex-investment trusts index, which returned of 8.72%, by 35.23%.
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