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The Merchants Trust PLC, The Brunner Investment Trust PLC, and Allianz Technology Trust PLC announced their net asset values (NAV) per ordinary share. At the close of business on 01 December 2025, The Merchants Trust PLC reported capital NAVs of 596.24p (based on par value of long-term debt/preference shares) and 606.05p (based on market value), and cum-income NAVs of 609.94p (par value) and 619.74p (market value). On the same date, The Brunner Investment Trust PLC reported capital NAVs of 1520.43p (par value) and 1543.71p (market value), and cum-income NAVs of 1529.33p (par value) and 1552.61p (market value); Allianz Technology Trust PLC reported a capital only NAV of 578.20p and a cum-income NAV of 577.00p, excluding shares held in treasury.
| Date | 2 Dec 2025 |
| Time | 14:13:43 |
| Category | Corporate updates |
| ID | 9319J |
The Merchants Trust PLC
LEI: 5299008VJFXCUD2EG312
As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis.
The Merchants Trust PLC announces that at close of business 01 December 2025:
1) based on the par value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 596.24p.
2) based on the market value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 606.05p.
3) based on the par value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 609.94p.
4) based on the market value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 619.74p.
In the valuation of the company's long term debt at market value, the margin added to the yield of the relevant reference gilt is derived from the spread of A UK corporate bond yields over gilt yields, with the exception that the Loan Notes issued on 18 December 2017 are valued at the yield over the reference gilt at which they were issued.
Enquiries:
Nira Mistry
Tel: 075 5422 4339
02 December 2025
The Brunner Investment Trust PLC
LEI: 529900S0Y9ZINCHB3O93
As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis.
The Brunner Investment Trust PLC announces that at close of business 01 December 2025:
1) based on the par value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 1520.43p.
2) based on the market value of the company's long term debt and preference shares, the capital net asset value per ordinary share was 1543.71p.
3) based on the par value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 1529.33p.
4) based on the market value of the company's long term debt and preference shares, the cum-income net asset value per ordinary share was 1552.61p.
In the valuation of the company's long term debt at market value, the margin added to the yield of the relevant reference gilt is derived from the spread of BBB UK corporate bond yields over gilt yields.
Enquiries:
Kirsten Salt
Tel: 020 3246 7513
02 December 2025
Allianz Technology Trust PLC
LEI: 549300OMDPMJU23SSH75
As recommended by the AIC, net asset values are calculated on both a capital and a cum-income basis. The cum-income net asset value reflects the revenue deficit for the year to date.
Allianz Technology Trust PLC announces that at close of business 01 December 2025:
excluding shares held in treasury:
1) the capital only net asset value per ordinary share was 578.20p and
2) the cum-income net asset value per ordinary share was 577.00p.
Enquiries:
Nira Mistry
Tel: 075 5422 4339
02 December 2025