Witan Trust sees dip in NAV

Witan, the 103-year-old investment trust, said yesterday it had seen a disappointing 2011 as its net asset value (NAV) per ordinary share dipped and its performance fell below its benchmark index. NAV per ordinary share on a debt at par value fell from 584.4p to 516.9p – a 11.6 per cent drop. Share buy-backs fell from four per cent to 1.5 per cent, while the number of private investors dropped from 36,595 to 33,421.