- BMO Global Smaller Companies said it posted a positive return in the first half that beat its benchmark.

The company's net asset value total return for the six months through October was 2.2%.

Its benchmark, which comprised a mix of the Numis UK Smaller Companies and MSCI All Country World indexes, rose 0.5% over the same time period.

'Our outperformance was mainly due to strong stock selection in North America, where a defensive skew to the portfolio proved to be astute, with geographic asset allocation also making a positive contribution,'; lead manager Peter Ewins said.

BMO Global Smaller Companies declared an interim dividend of 0.55p per share, up 10% on-year.

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