The Company has announced its Final Results for the year ended 31 December 2018:
- The Company recorded a net asset value (“NAV) per share total return of -4.8% for the year ended 31 December 2018, while the Benchmark Index, the FTSE World Europe (ex UK) Index, returned -9.5%.
- The discount widened from 8.6% to 10.7%, as a result of the share price total return of -6.8%.
- The Board recommended a final dividend of 6.28 pence per share for approval by shareholders at the AGM on 13 May 2019. In addition, the Board has decided from the 2019 financial year to pay both an interim and a final dividend.
- In a difficult year for equities, the Portfolio Manager’s strong stock selection capabilities were once again the significant drivers of performance with several high-conviction holdings contributing positively to returns.
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