F&C US small cap trust soars over benchmark

The £60m F&C US Smaller Companies investment trust beat its benchmark by nearly 20% over the year to 30 June.

The trust, managed by Robert Siddles, has delivered a net asset value total return per share jump of 8.7% over the period, compared with a sterling-adjusted fall of 10.9% for the Russell 2000 index. "The US, in common with other developed economies, faces many obstacles before it returns to the path of sustainable growth; however, given the vitality of its people, its wealth of resources and well-developed manufacturing sector it is likely to recover first and stands to benefit from expansion in Asia," trust chairman Gordon Grender says. "The enormous growth of government borrowing su...