Herald Investment Trust said its net asset value total return had under-performed the market in the three months to the end of September.
Over the period, the company' said its net asset value total return was 3.9% compared to the comparative index total return of 5.0%, while the share price total return was 6.7%.
The firm, which invests in smaller telecommunications, multimedia and technology companies, made purchases of £20.3m and sales of £24.4m over the quarter, giving rise to net sales of £4.1m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At the end of September, £50m had been drawn under the £50m multi-currency facility, the trust said.
The fair value of the related interest rate swap contract at 30th September was an estimated liability of £20.8m based on the swap provider's valuation, it added.
MM
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
