Throgmorton Trust
TICKER: THRG EXCHANGE:The Throgmorton Trust is a long-established investment trust, founded in 1957, that invests in a diversified portfolio of UK Smaller Companies, providing individuals with an opportunity to benefit from the higher expected returns from small companies, without the excess risk and higher expenses that accompany investment in a single smaller company. Blackrock Investment Management won a mandate to manage the fund in 2008.
LATEST REPORTS

Throgmorton's total return per share more than doubled
21.5% rise in NAV compared to 15% for the FTSE SmallCap

- Excellent stockpicking offsets weak AIM market
- Other small cap funds have less AIM exposure
- NAV still outperforming the benchmark indices
- Discount to NAV still looks unduly high relative to peer group levels and on an absolute basis

- Throgmorton has outperformed sector average for all periods from 6 months up to 10 years
- Above-average discount despite superior performance
- Buying-in shares to limit or reduce discount

- Consistently superior performance vs. market and benchmark
- Focusing on sector that has given strong returns
- Sensible alternative to unwieldy portfolio of smaller companies
- Deserves much lower discount to NAV than current 14.8%