Source - SMW
Equities investor Smithson Investment Trust posted a positive first-half performance that beat its benchmark.

The company's net asset value total return per share for the six months through June was 15.3%, compared to a 4.7% fall in the MSCI World SMID index.

Smithson Investment Trust did not declare a dividend, in line with its principal objective to provide returns through long-term capital appreciation rather than income.

'The board remains positive on the outlook for global small and mid cap equities in the medium to long term despite the impact on the global economy and financial markets from the Covid-19 pandemic,' the company said.

'Further government measures to contain the pandemic, together with other macroeconomic factors such as the upcoming US elections and Brexit withdrawal, may affect market movements in the short term.'

'The board intends to continue to issue new shares so as to generate additional value for shareholders net of all issue costs and to enable the investment manager to continue to seek attractive investment opportunities for any further capital raised.'

At 9:01am: (LON:SSON) Smithson Investment Trust PLC share price was -3p at 1509p

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