Aberforth Smaller Companies Trust |
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Introduction
Aberforth Smaller Companies Trust plc is an Investment Trust whose shares are traded on the London Stock Exchange. It is the largest trust within its sub sector of UK Smaller Company Investment Trusts.
Objective
The objective of Aberforth Smaller Companies Trust plc is to achieve a net asset value total return (with dividends reinvested) greater than on the Hoare Govett Smaller Companies Index (Excluding Investment Companies) over the long term by investing in a diversified portfolio of small UK quoted companies.
Policy
The Trust aims to achieve its objective by investing in securities of companies which are or which would be constituents of the Hoare Govett Smaller Companies Index (Excluding Investment Companies). The upper limit to this index was companies with a market capitalisation of £1,099m as at 1 January 2008 (the date of the last annual index rebalance). This market capitalisation limit will change due to movements in the stockmarket. The portfolio is diversified and will normally consist of investments in over 80 individual companies. In seeking investments the approach will be fundamental in nature involving regular contact with the management of prospective and existing investments in conjunction with rigorous financial analysis of these companies. The emphasis within the portfolio will reflect the desire to invest in companies whose shares represent relatively attractive value within a given stockmarket environment.
Duration
An Ordinary Resolution will be proposed at the Annual General Meeting in 2011 (and, if passed, at every third subsequent Annual General Meeting) that the Company continues to manage its affairs as an investment trust.