Net Asset Value(s)

Smithson Investment Trust plc reported an unaudited net asset value on an AIC basis of 1,622.35 pence per ordinary share (including income) as at close of business on 15 December 2025; this NAV provides the key reference point for assessing the trust’s market price versus underlying asset value and for ongoing performance monitoring.

Analysis

Smithson Investment Trust plc reported an unaudited net asset value on an AIC basis of 1,622.35 pence per ordinary share (including income) as at close of business on 15 December 2025. This NAV figure is the immediate, published reference for assessing the trust’s underlying per-share asset value and for short-term performance tracking against market price.

The update is explicitly unaudited, which means the figure is preliminary and could be subject to adjustment in the audited accounts; the provided sentiment and market-impact signals are neutral to low (sentiment_score 0.0, market_impact_score 0.15), indicating the release is routine rather than a market-moving disclosure. There is no additional operational or earnings information in the notice to suggest a change in strategy or material revaluation drivers.

For investors, the practical implication is to use the 15 December NAV as the latest valuation checkpoint: compare the trust’s current market price to this NAV to assess any persistent discount or premium, but avoid making large allocation shifts until audited figures or further disclosures confirm the unaudited position.

Key Decisions for Investors

• Compare the trust’s live market price to the 15 December unaudited NAV of 1,622.35p and consider trimming or adding only if a material, persistent discount or premium appears
• Treat this as a routine, preliminary update—await the audited NAV or additional disclosures before executing large position changes
• Monitor subsequent NAV publications and income/dividend communications for signs of valuation revisions or portfolio changes that would merit rebalancing