Stock data
| Market cap. | £23.5m |
| Last close | 43.75p |
| High / Low (52 weeks) | 65.5p / 43.8p |
| Stock market listing | LSE |
| Forecast net debt (m) | N/A |
| Forecast gearing ratio (%) | N/A |
| Team | Investment Companies & Trusts |
| Sector | Investment Trusts |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (16.27) | (23.91) | (34.33) |
| Relative * | (12.16) | (17.66) | (27.84) |
* % Relative to local index
Other companies covered in sector
Latest research
Energy that works
Review | Investment Trusts | 25/01/2012
Bottom up, global energy exposure
Review | Investment Trusts | 18/08/2011
Strong performance since launch
Review | Investment Trusts | 12/01/2011
Investment summary
New City Energy (NCE) is a fund that invests globally in energy-related equities and fixed interest securities. It focuses on small- and mid-cap companies where the manager sees the strongest longer-term growth potential. NCE is invested c 75% in oil & gas but does not invest in renewable sources; in the manager’s view it invests in “energy that works”. NCE pays quarterly dividends and increased its total dividend for 2011 by 3.125% to 1.65p. It has further capacity to increase the dividend. The manager considers that energy will be crucial to the next decade and, against a backdrop of a diminishing supply of oil and growing energy demand, remains very bullish on the long-term outlook for oil and the energy sector in general.
Last updated on 25/01/2012
Key management
| David Norman, Chairman |
| Merfyn Roberts, Fund manager |
| Will Smith, Fund manager |
| John Wong, Fund manager |
Company address
| 33 Grosvenor Place London SW1X 7HY United Kingdom View website |
