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Monks Investment Trust PLC on Wednesday said there need to be a smaller number of very sizeable investment trusts in the future, as it noted it underperformed against its benchmark in its financial year.
The Edinburgh-based investment trust said net asset value per share with borrowings at fair value was 1,265.2 pence as at April 30, when its financial year ended, down 0.1% from 1,266.1p a year ago.
NAV total return with borrowings at fair value was 0.1% in financial 2025, underperforming against its index, the FTSE World index in sterling terms, which had a return of 5.3%.
The company recommended a single final dividend of 0.5p per share, slashed by 76% from 2.10p a year ago. The payout is ‘to ensure that the amount retained for the year does not exceed that permissible,’ Monks explained.
Chair Karl Sternberg said: ‘We all share the view that there need to be a smaller number of very sizeable investment trusts in future, to reflect the changing shape of our ownership via wealth management platforms, advised, and self-administered. Monks needs to be fighting-fit as more mergers occur. I know that my colleagues will apply a great deal of effort to make sure that Monks should remain a core holding in the growth category and is in a position to be a consolidator.’
Back in January, the firm announced that Randeep Grewal will be appointed as chair at its annual general meeting on September 9.
Monks shares were 0.4% lower at 1,293.35 pence each on Wednesday morning in London.
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