F&C small cap trust ups payout

The F&C Global Smaller Companies trust yesterday confirmed it would up its full year dividend by 15.5 per cent, the 43rd year the trust has increased the payout. The listed entity, led by F&C fund manager Peter Ewin, invests in small companies globally. “This was a pleasing year for the team involved in managing the fund, as we added value in stock selection across the board for the second year in a row,” Ewin said. Bullish equities markets in the latter half of the year helped the fund deliver a total return in net asset value of 28.1 per cent for the full year ending April, well up on the 5.2 per cent recorded half way through the year. This was ahead of its MSCI and Numis benchmarks, which recorded 22.4 per cent for the year. Chairman Anthony Townsend said: “An investment of £100 in the...shares ten years ago with dividends reinvested would now be worth almost £600.”