LONDON, UK: Hargreave Hale AIM VCT PLC, a venture capital trust that invests in small and medium-sized enterprises, released its interim management statement for the second quarter of the 2022/23 financial year, covering the period from 1 January 2023 to 31 March 2023.

The company reported a net asset value (NAV) per share of 62.3 pence as of 31 March 2023, up from 58.9 pence as of 31 December 2022, representing a total return of 5.8% for the quarter. The NAV per share was also higher than the 60.6 pence as of 31 March 2022, reflecting a total return of 2.8% for the year.

The company attributed its improved performance to the recovery of the UK economy and the stock market, as well as the positive impact of its investment strategy and portfolio management. The company invested £7.1 million in 15 qualifying companies during the quarter, and realised £4.9 million from the sale of 11 investments. The company also paid an interim dividend of 1.75 pence per share on 26 March 2023.

The company stated that it remains confident in its ability to deliver long-term returns to shareholders, despite the ongoing challenges and uncertainties posed by the COVID-19 pandemic, inflation, interest rates, and geopolitical tensions. The company also announced that it will hold its annual general meeting on 15 June 2023.

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