About Aberforth

Compliance & Regulation

Reports, disclosure documents and key information on compliance with regulations

Table of Contents

The most up to date Compliance and Regulatory reports, disclosure documents and key information documents can be found in this section of the website.

RTS 28

The Markets in Financial Instruments Directive (MiFID II) requires investment firms who execute client orders to summarise and publish the top five execution venues in terms of trading volumes, for each class of financial instrument, where they executed client orders in the preceding year, as well as information on the quality of execution obtained. For equities, this information is required for each tick size liquidity band, categorised based on the average daily number of trades for each equity instrument traded in the preceding year.

Aberforth’s RTS 28 report for the period 1 January to 31 December 2020 is available for download below along with the three tables identifying the top five execution venues in EXCEL. In addition, all of these documents including CSV file formats can be viewed or downloaded from our Literature Library.

RTS 28 Report

122 kb

Aberforth Partners Documents

30 Apr 2021

RTS28 Table - Tick Size Bands 1-2 EXCEL

15 kb

Aberforth Partners Documents

30 Apr 2021

RTS28 Table - Tick Size Bands 3-4 EXCEL

14 kb

Aberforth Partners Documents

30 Apr 2021

RTS28 Table - Tick Size Bands 5-6 EXCEL

14 kb

Aberforth Partners Documents

30 Apr 2021

Pillar 3

Aberforth's latest Pillar 3 Disclosure document is available to download below or via the Literature Library.

Pillar 3 Disclosure

278 kb

Aberforth Partners Documents

30 Apr 2021

PRIIPs Background

The Packaged Retail and Insurance-based Investment Products ("PRIIPs") Regulation came into force on 1 January 2018. This regulation requires manufacturers of such products to produce a key information document (“KID”) for each product. Investment trusts fall within the regulation and each class of share is deemed to be a separate product.

The KID provides potential and existing investors with prescribed key information for each product. It is not marketing material. The information contained within a KID is required by law and aimed at helping the investor understand the nature, risks, costs, potential gains and losses of a product, as well as allowing the investor to compare products.

KID Explanation

Investors should be aware that the PRIIPs Regulation requires Aberforth Partners LLP ("Aberforth"), as PRIIP manufacturer, to prepare a KID in respect of each class of share for each investment trust managed by them. These KIDs must be made available to investors prior to them making any investment decision and will be available via this website and the websites of platforms that include these investment trusts.

The content of the KID is highly prescriptive, both in terms of the calculations underlying the numbers and the narrative, with limited scope to add context and explanations. The KID should therefore be read in conjunction with other materials relating to the product, including the latest Factsheet, Half-Yearly Report and Annual Report, copies of which are available on this website.

The figures in the KID may not reflect the actual returns for the product and the performance returns shown should only be viewed as examples of potential returns and cannot be guaranteed. Investors should note that the performance returns shown will be impacted by market conditions and investors may not get back the full value of their initial investment.

In addition, investors should note that the cost figures shown in the "What are the costs?" section of the KID may differ materially from the Ongoing Charges Figure published elsewhere on this website, or in documents such as Factsheets and Annual Reports. This is because the methodology for the calculation of costs mandated under the PRIIPs Regulation includes the costs of borrowing and estimates of the transaction costs of buying and selling investments in the portfolio.

Aberforth Split Level Income Trust plc

Investors should note the following points regarding the content of Aberforth Split Level Income Trust's Zero Dividend Preference shares KID:
(1) no cost figures are shown as none of the Trust's costs are attributed to the Zero Dividend Preference shares; and
(2) the performance scenario calculations shown follow the methodology prescribed by the PRIIPs Regulation, amended as appropriate to reflect the maximum potential pay-out of the product of 127.25p on 1 July 2024.

Documents

Copies of the current KID for each of Aberforth Smaller Companies Trust - Ordinary shares; Aberforth Split Level Income Trust - Ordinary shares; and Aberforth Split Level Income Trust - Zero Dividend Preference shares are available to view and download below or within the Literature Library.

Key Information Document

119 kb

Aberforth Smaller Companies Trust plc

31 Dec 2020

Ordinary Shares Key Information Document

119 kb

Aberforth Split Level Income Trust plc

30 Jun 2021

Zero Dividend Preference Shares Key Information Document

120 kb

Aberforth Split Level Income Trust plc

30 Jun 2021

Remuneration

Aberforth's latest Remuneration Disclosure document is available to view or download below or from our Literature Library.

Remuneration Disclosure

140 kb

Aberforth Partners Documents

30 Apr 2021

Disclaimer

An investment in an Aberforth product may go down as well as up and past performance is not an indicator of future performance. An investment in a product is suitable only for investors who are able to evaluate the merits and risks of such an investment and who have sufficient resources to be able to bear any losses which may arise (which may be equal to the total amount invested). Before making an investment in an Aberforth product, investors are encouraged to consider all sources of information available – including Factsheets and Annual Reports – that will assist in establishing a detailed understanding of the product and consider seeking independent financial advice.

Conflicts of interest

The document below sets out the key policies, procedures and controls established by Aberforth Partners LLP & Aberforth Unit Trust Managers Limited (Aberforth) pursuant to the effective prevention, management, and monitoring of conflicts of interest.

Conflicts of Interest Policy

207 kb

Aberforth Partners Documents

01 Jan 2000