The company’s share price total return for the same period was 53.7%

The trust has said that performance was driven by a number of names, including: Farfetch, an online luxury fashion retailer; Ashtead, a construction equipment rental business; Volution Group, a supplier of ventilation products; and Just Group, a provider of retirement income products and services.

The net revenue return for the year was 2.88p per share (2020: 3.75p). A final dividend of 2.42p per share is being recommended (2020: 3.10p).

The dividend is paid by way of a single final payment and is approximately the minimum permissible to maintain investment trust status.
Over the year, a total of 2.5 million shares were re-issued from treasury at a premium to the NAV per share.

As part of this year’s AGM business, shareholder authority is being sought to permit the company to invest up to 10% of total assets in private companies, as measured at the time of initial investment.

The company has said that its board and managers continue to believe that exceptional UK growth companies are able to exploit their competitive strengths over the long term and take advantage of the opportunities that follow severe economic dislocation.