- Milton UK MicroCap Trust posted a 12.4% fall in its net asset value in the first half, under-performing its benchmark.

Over the same period, the FTSE AIM All-Share Index fell 6.7%, while the FTSE SmallCap Index fell 9.0%

'The bulk of the return on the portfolio reflected the general move in markets, although the half-year outcome suffered when one of the longer-term holdings, Yu Group, fell sharply in October,' the company said.

Milton UK MicroCap also announced that it had postponed a proposed share redemption until the end of June, back from the end of April.

The move was made to avoid potential market volatility that could arise from the UK's plan to exist the European Union on 29 March.

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