The £179m fund has been run by Baillie Gifford for eight years and over that period has seen the NAV rise by 102%, according to the company.
In the year to 31 October, however, the share price of the trust declined by 4%, compared to a 2.7% decline from the MSCI All Countries World Index.
David HL Reid, chairman of the trust, said the "on-going eurozone saga" and the impact it had wrought on markets had hurt the trust’s short-term performance.
He added that it would continue to have an impact over a shorter time horizon but that over the long term shareholders should still get good returns.
Net revenue return for the year was 2.51p, compared to 1.86p in 2010 as the trust used its reserves to increase the total dividends for the year to 2p.
Earlier in the year the board announced a change to the trust’s investment policy to allow investments in unlisted companies.
Through this it intends to invest in mature companies planning to undertake an IPO in the near future, rather than small start-ups and it does not foresee total exposure to unlisted companies to exceed 1% of the fund’s total assets.
