Chelverton increases NAV

20th Apr 2010 18:15

Small companies-focused investment trust Chelverton Growth Trust has increased its net asset value from 19.47p a share to 22.7p a share in the six months to February 2010. AIM-quoted Alliance Pharma has been one of the stars of the portfolio. Enterprise software supplier Sanderson has also recovered during the period. The managers say that the General Election could hold back the market. "This creates an uncertainty which, coupled with the prospect of a hung parliament will probably restrain progress in the domestic stockmarket. Whilst we believe that the valuations of our Companies are currently attractive on a medium term view, they remain vulnerable in the short term to any adverse shift in risk and sentiment associated with the election."