Backing growth stocks has been like swimming against the tide so far this year, so it’s no wonder that smaller companies specialist BlackRock Throgmorton Trust has been sent into reverse.
The FTSE 250 constituent’s shares have fallen 15 per cent since the start of this year, while its net asset value has declined by just over 8 per cent since the end of November — worse than the 2.8 per cent fall in its benchmark, the Numis Smaller Companies Plus Aim Index. That unravelled the premium that had been attached to the shares versus its NAV, which has tipped into a marginal discount against the recently lowered asset value figure.
The trust has a bias towards investing in small and mid-cap companies that it believes
