Invesco Perpetual UK Smaller Companies eyes June continuation vote as negative returns persist

NAV total return down 4.1%

The Invesco Perpetual UK Smaller Companies (IPU) trust is set to put a continuation vote to shareholders at its upcoming annual general meeting in June, as performance challenges persist.

In its annual results for the year ended 31 January 2024 published today (1 May), IPU posted negative returns, albeit much improved from a year prior. Net asset value total return was down 4.1% for the year alongside negative 1.8% share price total return, compared to the 3.3% drop of its benchmark, the Deutsche Numic Smaller Companies + AIM (excluding investment companies) index. The trust's share price return led to its discount marginally narrowing from 11.6% to 11.1% at the end of January. However, according to data from the Association of Investment Companies, IPU's discount has ...