Aberforth UK Small Companies Fund
|
||
 |
Introduction
Aberforth UK Small Companies Fund is an Authorised Unit Trust. The Fund is managed by Aberforth Unit Trust Managers Limited and the Trustee to the Fund is The Royal Bank of Scotland plc. The Fund only issues limited issue units that are also accumulation units and holders have their income, after deduction of tax, automatically added back to the value of the Fund twice a year. No additional units are issued as the value of the accumulated income is reflected in the unit price.
Objective
The objective of Aberforth UK Small Companies Fund is to achieve a total return (with income 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 Fund 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 £1,104m as at 1 January 2007 (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.
Dealings
Dealings take place every business day between 9.00am and 4.30pm. The minimum initial and subsequent investment into the Fund is £1,000. The Fund deals on a forward pricing basis thus, at the time of application, investors will not know at what price a transaction will be effected. Holders can realise all or part of their holdings of units on any business day between 9.00am and 4.30pm - subject to a minimum partial redemption of £1,000.
Orders may be placed by telephone by calling the Fund's Dealing Line on 0845 608 0940.
Full details of the Fund are contained in the Annual Report & Accounts - which are available on the Fund Literature page - and in the Application Form, Simplified Prospectus and Prospectus - available on the Application Form page.
Initial Charge & Spread
There is no initial charge included in the price of units and the spread between the buying price and the selling price directly reflects the underlying spread on the portfolio of investments. This spread can therefore fluctuate and the current dealing spread is shown on the Latest Prices page.