Aberforth Split Level Income Trust plc
Final Financial Information
Aberforth Split Level Income Trust plc had a planned winding up date of 1 July 2024 and was put into members’ voluntary liquidation by shareholders at the general meeting held on 28 June 2024.
Ordinary Shareholders’ entitlements under the Proposals were based on the Formula Asset Value (FAV) per Ordinary Share, which was the net asset value of the Company attributable to the Ordinary Shares as at the calculation date. At the calculation date of 21 June 2024 the FAV was 84.84 pence.
Under the Proposals, ZDP Shareholders received an amount equal to the Terminal Asset Value (TAV) per ZDP share. The TAV per ZDP Share was 127.25 pence.
Past Performance
All fund performance values are to the calculation date which is 21 June 2024. The DNSCI (XIC) values are to 30 June 2024.
| Performance Period | NAV Ord | Share Price Ord | Share Price ZDP | Total Assets | DNSCI (XIC) |
|---|---|---|---|---|---|
| 1 Year to 30/06/2024 | 23.6 | 30.5 | 5.9 | 17.6 | 14.5 |
| 1 Year to 30/06/2023 | 12.2 | 20.0 | 3.0 | 9.7 | 4.4 |
| 1 Year to 30/06/2022 | (20.7) | (23.2) | 1.8 | (14.9) | (17.2) |
| 1 Year to 30/06/2021 | 94.4 | 97.7 | 7.5 | 61.9 | 49.8 |
| 1 Year to 30/06/2020 | (36.2) | (35.1) | (4.9) | (26.5) | (15.0) |
| Period to 30 June 2024 | NAV Ord | Share Price Ord | Share Price ZDP | Total Assets | DNSCI (XIC) |
|---|---|---|---|---|---|
| 1 year | 23.6 | 30.5 | 5.9 | 17.6 | 14.5 |
| 2 years | 17.7 | 25.2 | 4.4 | 13.6 | 9.3 |
| 3 years | 3.2 | 6.4 | 3.5 | 3.1 | (0.3) |
| 4 years | 20.9 | 24.2 | 4.5 | 15.5 | 10.4 |
| 5 years | 6.4 | 9.1 | 2.6 | 5.5 | 4.7 |
| Launch | 3.3 | 3.4 | 3.4 | 3.2 | 3.6 |
| Inception | 3.8 | 3.4 | 3.4 | 3.6 | 3.6 |
| Period to 30 June 2024 | NAV Ord | Share Price Ord | Share Price ZDP | Total Assets | DNSCI (XIC) |
|---|---|---|---|---|---|
| 1 year | 23.6 | 30.5 | 5.9 | 17.6 | 14.5 |
| 2 years | 38.6 | 56.7 | 9.1 | 29.0 | 19.6 |
| 3 years | 9.9 | 20.3 | 11.0 | 9.7 | (1.0) |
| 4 years | 113.7 | 137.8 | 19.3 | 77.7 | 48.3 |
| 5 years | 36.2 | 54.3 | 13.5 | 30.6 | 26.1 |
| Launch | 25.8 | 26.8 | 26.5 | 24.4 | 28.4 |
| Inception | 30.2 | 26.8 | 26.5 | 28.1 | 28.4 |
NAV Ord = the Trust’s net asset value per Ordinary Share with dividends reinvested.
Share Price Ord = the Trust’s Ordinary Share price with dividends reinvested.
Share Price ZDP = the Trust’s ZDP Share price.
Total Assets = represents the return of the combined funds of the Ordinary Shareholders and ZDP Shareholders assuming that dividends paid to Ordinary Shareholders were reinvested at the NAV per Ordinary Share at the close of business on the day the Ordinary Shares were quoted ex dividend.
DNSCI (XIC) = capital appreciation on the Deutsche Numis Smaller Companies Index (Excluding Investment Companies) with dividends reinvested. This comprises the bottom 10% of all UK quoted companies by market value which at 1 January 2024 included some 353 companies, the largest market capitalisation of which was £1,680m and the aggregate market capitalisation of which was £143bn.
Dates: Launch = 3 July 2017; Inception = 30 June 2017.
At inception an Ordinary Share had a NAV of 100p and a gearing level of 25%
At inception a ZDP Share had a NAV of 100p, a Projected Final Cumulative Cover of 3.4x, and a Redemption Yield of 3.5%.
Data relating to the hurdle rates, redemption yields and terminal asset values for the Zero Dividend Preference Shares is also available from the ZDP Analytics page in the “Interactive Statistics” section of the AIC website.
Past performance is not a guide to future performance, or a reliable indicator of future results or performance.