Aberdeen Smaller Companies Income Trust
Company Notes
Wide discount despite strong long-term performance
Aberdeen Smaller Companies Income Trust* invests primarily in listed UK smaller companies, supplemented by a low-single digit allocation to UK fixed income securities (1.5% of net assets at 30 September). Abby Glennie has managed the fund since August 2018 and has specialised in UK smaller companies since 2016. Co-portfolio manager Amanda Yeaman joined the team in June 2019. The portfolio has a quality growth focus and an income bias. The fund has outperformed its NSCI XIC benchmark over the past three, five and ten years on a NAV total return basis, while it has outperformed the UK Smaller Companies peer group over the past three and ten years. The NAV total return over the last twelve months is +40.3%, compared with +43.1% for the benchmark and +54.7% for the peer group, reflecting the market preference for value and cyclical exposure.
*Denotes a corporate broking client of Winterflood Securities
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