- Investment trust New Century AIM VCT 2, which invests in stocks listed on London's AIM market, posted a negative first-half performance that nevertheless beat its benchmark.

The company said it hoped to recommence paying a dividend next year.

Its net asset value per share for the six months through June fell 2.5% to 48.3p. The FTSE AIM Allshare index fell 7.8% over the same period.

'It is pleasing to report that following a very difficult period for the market during February and March 2020, your fund regained nearly all of the declines in its net asset value incurred during those months, and considerably outperformed its benchmark,' chairman Geoff Gamble said.

'We believe the difficult decision to use existing cash resources to invest in new opportunities rather than fund a dividend has proved to be the correct one as we have seen a strong recovery in the NAV from the lows experienced in the stock market sell off in March 2020,' he added.

'We hope, subject to the possible volatility mentioned below, to be able to recommence paying a dividend next year.'

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