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22 Jul 2021

Standard Life UK Smaller Companies

Company Notes

Well-placed for continued long-term outperformance

Standard Life UK Smaller Companies aims to achieve long-term capital growth through investment in UK quoted smaller companies. The fund has been managed by Harry Nimmo of Aberdeen Standard Investments since September 2003. He is supported by Abby Glennie and Amanda Yeaman, while Tzoulianna Leventi is an ESG expert who provides analysis and advice to the team within this area.

Over the last ten years, the fund has delivered a NAV total return of +253%, outperforming its benchmark, the NSCI + AIM ex ICs (+134%), as well as the UK Smaller Companies peer group (+226%). As shown in the table below, it has also outperformed both the index and the peer group over the last three and five years. However, over the last 12 months the fund’s NAV total return of +39% has lagged both the benchmark (+44%) and the peer group (+51%) as a result of a period of underperformance between November 2020 and March 2021. This coincided with a period of market rotation from ‘growth’ to ‘value’ following the announcement of a successful Covid-19 vaccine.