Aberforth Smaller Companies Trust
Company Notes
Strong recent performance reflects market rotation
Aberforth Smaller Companies Trust aims to deliver a total return in excess of the NSCI XIC benchmark by investing in listed UK smaller companies. With a market cap of £1.3bn, it is the largest investment trust specialising in UK small caps. The fund is managed by Aberforth Partners, which employs a disciplined value investment approach. Seven co-portfolio managers share responsibility for the fund, with long-serving manager Alistair Whyte recently retiring, replaced by Sonya Kim in March. The portfolio contained 81 stocks as at 31 May 2021, with an active share of 74%. The fund has outperformed the benchmark over the last ten years, five years and the last twelve months. Over the latter period, the NAV total return was +65%, compared with +45% for the benchmark and +53% for the UK Smaller Companies peer group.
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