Downing Strategic Micro-Cap Investment Trust PLC (LSE:DSM) has published another set of strong results, outperforming both the AIM and FTSE Small Cap indices for the third year running, according to research house Kepler.
The trust reported a NAV decrease of 8.7% and a 9.7% decrease in the share price, but that compares favourably to the FTSE AIM All-Share TR index over the period, which fell 17.4%
Looking forward, the managers say that there is significant potential for earnings upgrades in many of the trust's 10 largest portfolio holdings over the next 12-24 months, Kepler noted.