Literacy Capital trust saw a total NAV return in the final three months of 2022 of 9.3%, as it continues to shift its portfolio to more mature companies.
In its quarterly trading update the trust said that its total NAV return for the year was 51.7%. The trust, which invests in private businesses, donates 0.9% of its annual NAV to charities focused on improving UK literacy in children. In the final quarter £733k was donated, bringing the total to £5.8m since its launch. Richard Pindar, CEO of the trust's investment management firm, said the investment trust has "continued to make progress rebalancing the portfolio away from earlier stage, growth capital investments (which now equate to just 5% of gross assets), and towards buyouts of s...
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