Manchester & London IT assets hit record

10th Nov 2010 11:10

UK growth fund Manchester & London Investment Trust added ground Wednesday after announcing net asset value (NAV) per share topped £100m for the first time ever.NAV (including income) has risen to 445.5p a share, up from the previous all-time high of 408.6p announced towards the end of September. The trust was set up in 1971 with just £100,000 of capital and boasted net assets of only 2.3p a share 10 years later.Its compound annual growth rate of 20.12% is almost three times the 7.2% achieved by the FTSE All-Share Index over the same period.