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Personal Assets Trust PLC has released its final results for the year ended April 30, 2025. The companys investment policy aims to protect and increase shareholders funds per share over the long term. Over the past year, the net asset value total return was 7.5%, matching the total return of the FTSE All-Share Index. The share price rose by 28.00p during this period.
The Chairman, Iain Ferguson, highlights the unpredictable global landscape, including political changes and ongoing conflicts. Despite these challenges, the company has maintained its investment proposition and the NAV total return has grown at an annual compound rate of 8.6% since 1990. The company continues to buy back and issue shares to control the discount to NAV, ensuring shares trade close to their net asset value.
The Board remains committed to paying an annual dividend of 5.60p per share. Due to high inflation, the company has also declared a special dividend of 1.60p per share for the year.
The Board has undergone some changes, with Jean Sharp stepping down and Sharon Brown joining as a new Director. The company has also conducted an independent external review of the Boards performance, identifying areas for improvement.
The Investment Co-managers, Sebastian Lyon and Charlotte Yonge, provide insights into the investment strategy. They highlight the shift in the investment narrative from American exceptionalism to ABUSA (anything but the USA). The portfolio has been adjusted to navigate the changing environment, with a focus on equity-like returns and bond-like volatility.
The financial statements provide details on the companys income statement, statement of financial position, statement of changes in equity, and cash flow statement. The company has maintained its focus on risk management and has assessed the principal risks facing the company, including geopolitical developments, economic risks, operational risks, legal and regulatory risks, and discount and premium control risks.
Overall, Personal Assets Trust PLC has delivered solid financial performance while managing risks effectively in a volatile and uncertain global environment.