Assets bounce at Athelney
Article Date: Aug 18 2009Small company investor Athelney Trust saw net assets rally 10 per cent to 104.9p a share in the six months to June.
The fully listed company, which points out that year-on-year its net asset value showed a fall of almost 28 per cent, turned the previous first half’s negative total return of £533,114 into a positive pre-tax return of £260,443. Chairman Hugo Deschampsneufs says ‘markets are back where they began in January’ and declares, ‘I reiterate my forecast of a 12 to 17 per cent rise in equity markets for 2009.’
Athelney shares, which traded well above £2 in 2007, are now quoted at 105p, down 15p today. That values the company at just £1.9 million.
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