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Listed company investor Smithson Investment Trust posted a positive annual performance that easily beat its benchmark.
The company's net asset value total return per share for the year through December was 31%, beating a 12% return on the MSCI World SMID Index.
Smithson did not declare a dividend, in line with its strategy of generating capital growth rather than income.
Its top holdings at the end of December included Fevertree Drinks, Sabre, Rightmove and IPG Photonics.
'Despite the ongoing impact of the Covid-19 pandemic on the global economy and continuing efforts to contain it, the board is very pleased with the company's performance to date and remains positive on the outlook for global small and mid-cap equities in the medium to long term,' chairman Mark Pacitti said.