British Asset Trust improved its net asset value by more than 6% in the year to September 2010.

The investment trust's portfolio increased in value helping NAV to rise from 121.9p a share to 129.8p a share. The trust was overweight in emerging markets, including Brazil, India and China, while the corporate bond portfolio did well.

A general improvement in dividend payments received was offset by the passing of the BP dividend.

The revenue return was slightly lower at 5p a share - because of the lack of dividend from BP in the second half - but the capital return increased to 9p a share. That meant that the total return improved from 13.8p a share to 14p a share.

The dividend has been maintained at 6.112p a share.

Net debt has risen from £73.5m to £79.9m at the end of September 2010 because the trust paid out more in dividend than it generated in income.

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