EDINBURGH - Edinburgh Worldwide Investment Trust PLC (LSE:EWI) has announced its annual results for the year ending October 31, 2024, showing a net asset value (NAV) per share increase of 12.8% and a share price increase of 26.1%. These figures contrast with the S&P Global Small Cap Index, which rose by 21.6% in sterling terms over the same period.
The trust highlighted the performance of certain investments, including Alnylam Pharmaceuticals (NASDAQ:ALNY) and AeroVironment (NASDAQ:AVAV), as top contributors to this year's growth. Additionally, Edinburgh Worldwide bought back approximately 4% of its issued share capital for treasury, reflecting a proactive approach to managing its share structure.
At the financial year's close, the company's invested equity gearing was reported at +11% of shareholders' funds, a slight decrease from the previous year's 14%. The trust also maintained its portfolio of fourteen private companies, which represent 25.3% of its total assets, consistent with the previous year's strategy.
In board news, Gregory Eckersley has been appointed as an independent Non-executive Director, effective from February 15, 2025. Eckersley's background includes extensive experience in equity investment and portfolio management, with notable positions at AllianceBernstein (NYSE:AB) and the Abu Dhabi Investment Authority. His appointment coincides with the retirement of Helen James, who is stepping down following the Annual General Meeting (AGM).
Jonathan Simpson-Dent, Chair of Edinburgh Worldwide Investment Trust, expressed his enthusiasm for Eckersley's addition to the board, citing his broad expertise in the field and his expected contribution to the trust's insight and strategy.
The announcement concludes with the standard disclaimer regarding the volatility of investment and share prices, reminding investors that returns are not guaranteed. This news is based on a press release statement from Edinburgh Worldwide Investment Trust.
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