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Aberforth Geared Income : AGIT – interim results

Over the six months to the end of December 2013, AGIT’s ordinary share NAV rose by 41% and the share p[rice by 41.2%. The zero dividend preference share NAV rose by 3.3% and its share price by 0.8%. The FTSE All-Share rose by 11.4% over the period while the Numis Small cap Index excluding investment companies returned 21.0%. The ordinary shares are geared by the zeros; the portfolio return was 27.4%. The final capital entitlement for the zeros is now covered 2.5x and they trade on a redemption yield of 4.3%.

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