Company summary
North Atlantic Smaller Companies Investment Trust invests in listed and unquoted smaller companies, mainly in countries bordering the North Atlantic. It is managed with a highly active, value-oriented and often concentrated approach.
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NAS
North Atlantic Smaller Companies Investment Trust
Investment Trusts
- Index
- FTSE 250
- ISIN
- Not specified
- Book status
- 2026 edition — current
Key activities
Investment in smaller quoted companies, private businesses, specialist funds and selected turnaround or value opportunities, with active use of share buybacks and long investment horizons.
Key markets
Primarily the UK and North America, with flexibility to invest in listed and private smaller companies across North Atlantic economies.
Key drivers
Stock selection, private-company valuations, corporate takeovers and realisations, UK smaller-company recovery, US markets, share buybacks and narrowing of the unusually wide discount to NAV.
Key risks
Concentrated holdings, smaller-company illiquidity, private-asset valuation uncertainty, stock-specific setbacks, manager dependence and a persistent wide discount to net asset value.
Recent Developments
29 April 2026: annual results reported NAV per share of 555.4p, up 2.9%, with net assets of £724.8m. The trust continued buying back shares during May and June as its shares traded at a substantial discount to net asset value.
Dividend notes
Income is secondary to capital growth and dividends vary materially. A 7.0p dividend went ex-dividend on 26 February 2026 and was paid on 2 April.
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