Alliance Trust sees NAV down

Alliance Trust, the FTSE 250 investment company, has seen its net asset value fall 7.5% in the three months to the end of October. It's net assets now stand at £2,457.7m

The firm is currently going through a buy back programme of 15% of its issued shares. So far it has bought 5.9% or 38.3m.

Alliance is also facing change at the top with the chairman, Lesley Knox, set to leave the firm in 2012.

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Dividend for the 11 months to the 31 December is expected to be 8.56p, up 2% on the prior year.

Net inflows to Alliance Trust Asset Management in the quarter were £7.3m and the company has also been given permission to launch a "Global Thematic Opportunities Fund" by the FSA, to be managed by Ilario Di Bon and Juergen Lanzer.

Alliance Trust shares were down 1.1% at 2.12pm at 330.92.

BS