LONDON (ShareCast) - (ShareCast News) - Investment group Oryx International Growth Fund said the growth in net asset value in the first six months of the year had surpassed that of its benchmarks.
In the six months to 30 September, the London-listed company said its net asset value grew 15%, comfortably ahed of its benchmarks, the AIM index and the FTSE Small Caps Index, which posted a 1.3% gain and a 2.5% decline respectively.

Oryx, which invests in small and mid-sized firms, attributed the growth to goof performances from some of the larger holdings in its fund. Innovation Group and Synergy Health both jumped almost 40% following takeover offers, while Source BioScience rose 31% after completing an acquisition.

However, Goals Soccer Centres represented a major disappointment as it fell sharply after disappointing trading results.

"Smaller companies have had a difficult period over the past few months, particularly in sectors exposed to energy and raw material prices," the company said in a statement.

"Liquidity in the sector continues to worsen as larger fund managers reduce exposure to small companies and substantial unit trust redemptions."

The company added it was well placed to take advantage from the current environment, as it has substantial cash balances which will increase further when the proceeds from real takeovers are received.

Oryx shares were up 0.33% to 649.65p at 1241 GMT on Friday.

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