Scottish American I.T. outperforms

7th Oct 2009 15:56

Scottish American, the investment trust that invests in a broad range of assets and markets, narrowly outperformed the indices against which it measures its performance in the third quarter.Net asset value per share at the end of September stood at 190p, up from 156.5p at the end of June. Total assets after deducting the fair value of the firm's debenture, rose to £347.4m from £299.4m at the end of June.Net asset value total return (with debt at fair value) rose 22.8% over the third quarter, versus a 22% on the trust's benchmark measure, which is calculated using an equal blend of the FTSE All Share index and the FTSA All World excluding the UK (£).Gearing less cash (debenture at fair value) declined to 36.5% over the reporting period from end-June's 43.6%.