| Discrete year performance (%) | Share price (total return) | NAV (total return) |
| 31/03/2025 to 31/03/2026 | 29.1 | 32.1 |
| 31/03/2024 to 31/03/2025 | 11.8 | 5.9 |
| 31/03/2023 to 31/03/2024 | 1.8 | 8.5 |
| 31/03/2022 to 31/03/2023 | -1.5 | -0.4 |
| 31/03/2021 to 31/03/2022 | 14.1 | 9.9 |
All performance, cumulative growth and annual growth data is sourced from Morningstar.
Source: at 31/03/26. © 2026 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not predict future returns.
Key terms defined
Absolute return
The total return of a portfolio over a specified period as opposed to its relative return against a benchmark. It is measured as a gain or a loss and stated as a percentage of a portfolio’s total value.
AI
Artificial intelligence.
AIM indices
The FTSE AIM Index Series tracks companies listed on the London Stock Exchange’s Alternative Investment Market (AIM), a, junior market for small-to-mid-sized growth companies.
Capital
When referring to a portfolio, the capital reflects the net-asset value of a fund. More broadly, it can be used to refer to the financial value of an amount invested in a company or an investment portfolio.
FTSE 100
The FTSE 100, or “Footsie,” is a share index representing the 100 most highly capitalised blue-chip companies listed on the London Stock Exchange (LSE). Launched in 1984, it serves as a primary barometer for the performance of the UK stock market. It is a market-capitalisation-weighted index, reviewed quarterly, covering major sectors like banking, energy, and mining.
FTSE 250
The FTSE 250 Index is a capitalisation-weighted index comprising the 101st to 350th largest companies listed on the London Stock Exchange (LSE). It acts as a key barometer for the UK economy, with many companies being more domestically focused than the global-oriented FTSE 100.
FTSE All-Share
The FTSE All-Share Index is a comprehensive, capitalisation-weighted index tracking the performance of around 600 of the largest, most liquid companies listed on the London Stock Exchange (LSE) main market.
NAV total return (investment trusts)
The theoretical total return on shareholders’ funds per share reflecting the change in NAV assuming that dividends paid to shareholders were reinvested at NAV at the time the shares were quoted ex-dividend. A way of measuring investment management performance of investment trusts which is not affected by movements in discounts/premiums.
Portfolio
A grouping of financial assets such as equities, bonds, commodities, properties, or cash. Also often called a ‘fund’.
Share price
The price to purchase (or sell) one share in a company, not including fees or taxes. For investment trusts: The closing mid-market share price at month end.
Share price total return (investment trusts)
The theoretical total return to the investor assuming that all dividends received were reinvested in the shares of the company at the time the shares were quoted ex-dividend. Transaction costs are not taken into account.
Small-cap stocks
Companies with a valuation (market capitalisation) at the smaller end of the market scale.
Valuation metrics
Metrics used to gauge a company’s performance, financial health, and expectations for future earnings, e.g. P/E ratio and ROE.
