- Investment company Personal Assets Trust posted a positive annual performance that nevertheless fell short of its benchmark.

The company's net asset value per share in the year through April rose 9.1%, compared to a 22% rise on the FTSE All-Share Index.

It said it expected to pay three further interim dividends of £1.40 per per share in the current financial year, bringing the total for the year to $5.60 'barring unforeseen circumstances'.

'We track the performance of PAT from 1990 and since then the NAV has grown at an annual compound rate of 7.0% compared to 4.4% for the FTSE All-Share Index and 2.8% for the RPI, the two main comparators which we use,' chairman Iain Ferguson said.

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