New Star Investment Trust PLC Reports Financial Results for 2024

New Star Investment Trust PLC has published its unaudited results for the year ending June 30, 2024. The company's net assets increased by 9.77%, reaching £137.86 million. The net asset value per ordinary share rose to 194.11p, marking a similar percentage increase. Despite this growth, the shares traded at a 32.3% discount to net asset value.

The total return for the year was 11.69%, compared to 2.62% in 2023. This performance was slightly lower than the 11.80% return of the IA Mixed Investment 40-85% Shares Index and significantly behind the 20.61% return of the MSCI AC World Index. Revenue and capital returns per ordinary share were 4.05p and 16.62p, respectively.

The company announced a total dividend of 3.4p per ordinary share, indicating an increase from 2.6p in 2023. A £17 million capital return to shareholders was executed via a B share scheme. The company maintained a cash position, representing 11.61% of the net asset value, and had no borrowings at the year's end.