F&C trust suffers 3.5% NAV dip

A TESTING period for global smaller company shares has led to a fall in the net asset value (NAV) of the F&C Global Smaller Companies investment trust, although it outperformed its benchmark.

The NAV of the 230 million trust fell by 3.5 per cent in the six months to 31 October, compared with a fall of 4.2 per cent in the benchmark comprising the Hoare Govett Smaller Companies and the MSCI World ex-UK Small Cap indices. Chairman Gerry Grimstone said: "It should be remembered that this fall came after a 62 per cent rise in the last financial year."