|Acorn Income Fund
||EPS - Basic
||Market Cap (m)
|Acorn Income Fund Daily Update: Acorn Income Fund is listed in the General Financial sector of the London Stock Exchange with ticker AIF. The last closing price for Acorn Income Fund was 375p.|
Acorn Income Fund has a 4 week average price of 368.09p and a 12 week average price of 355.93p.
The 1 year high share price is 387p while the 1 year low share price is currently 321.50p.
There are currently 15,860,692 shares in issue and the average daily traded volume is 31,368 shares. The market capitalisation of Acorn Income Fund is £59,636,201.92.
|gopher: zero dividend preference shares act as leverage on the quoted share price magnifying gains and losses in the NAV. At expiry they must be paid back which in Acorns case would reduce the size of the fund. It can create a bit of mess if things start to go badly but the existence of ZDP go some way to explaining Acorn outperformance in the past and dividend yield. I would expect a new issue and there is the security of the bond holdings so on balance OK.|
|stevebarrett86: Am I missing something? NAV something like 16p a share higher than a couple of months ago but share price falling like a stone??? What's going to close the discount which seems ridiculously large at the moment. Share price has never recovered from untimely death of the fund manager it seems.|
|alroyrob: The share price is now trading at quite a discount to NAV. Imo, that is a very attractive buy signal when the company is a continuous strong performer such as Acorn.|
|davebowler: Acorn Income Fund unveils 'truly spectacular results' for the year to December, according to chairman Helen Green.
She said: "Measured on share price total return (share price with dividends reinvested), the company was the best performing investment company in 2012. (Source: Winterflood Securities Annual Review).
"The company's performance record has in fact been exceptional over longer time periods as well.
"Comparing the company to the 41 closed end funds in the Growth and Income, High Income, Small Companies High Income, UK mid cap and UK smaller companies sectors the company was the best performing fund measured on net asset value total return over one, three, five and ten years (as at 24 February 2013). (Source: Morning Star and Numis Securities)."
The Numis Smaller Companies (ex-investment companies) Index rose by 29.9% on a total return basis over the year and the FTSE Small Cap (ex-investment trusts) Index was up 36.3% on a total basis. This compares to a 12.3% rise in the FTSE All Share Total Return Index.
Acorn Income said its total return on gross assets was 30.5% and with gearing from the ZDP shares the return on net assets was 48%.
With a rerating to a narrower discount during the year, ordinary shareholders enjoyed a total return on their share price of 60.5%.|
Acorn Income Fund share price data is direct from the London Stock Exchange