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Herald Investment Trust reported a 17% rise in net asset value per share in the first half of the year as its regional portfolios outperformed their benchmark in the UK and US.
For the six months ended 30 June 2019, net asset value per share rose 17.2% to 1,532.6p from the previous quarter.
Its UK portfolio returned 15.8% for the half, beating the total return of 9.8% from the Numis Smaller Companies Index plus AIM (ex investment companies).
The North American investments delivered a total return of 27.6%, above the Russell 2000 (small cap) Technology Index sterling total return of 23.0%. The outperformance comes as North American portfolio benefited from a 'remarkable' number of takeover bids during the period, the company said.
The EMEA sterling total return was 19.9%, while the Asian total return was 23.4%.