Aberdeen Smaller Companies Income Trust PLC

Hunting smaller companies for a stronger income


Morningstar rating:
5 out of 5

Daily prices as of {{asOfDate}}

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2020 Annual General Meeting (AGM)

The Company's AGM is scheduled on 26 June 2020. In the light of the developing Government guidance and measures, including the restrictions on public gatherings and maintaining social distancing, and the likelihood that these measures will remain in place until at least the end of June, this year's AGM will follow the minimum legal requirements for an AGM. This means that physical attendance at the meeting may not be possible and the Chairman may, in his or her sole discretion, limit the number of individuals able to attend the meeting. Arrangements will be made by the Company to ensure that the minimum number of shareholders required to form a quorum will attend the meeting in order that the meeting may proceed and the business concluded.

Shareholders are strongly advised not attend the AGM in person and instead exercise their votes in respect of the meeting in advance. The Company's 2020 Annual Report and AGM details can be found below.

Latest news

An update from our investment manager, Abby Glennie - 23 June 2020

We believe there will be many twists and turns ahead for markets. There is huge uncertainty about how we come out of lockdown, the path of economic growth, unemployment, consumer confidence and the potential structural changes to the way we live. For many businesses, the road to full operational recovery is unclear. This includes issues around efficiency, productivity, and cost base. How the government unwinds its emergency programmes such as the furlough scheme will also be critical to the outlook.

We think we could be facing an elongated period of weak economic growth, and a slow recovery back to pre-Covid-19 levels. Finding income in this environment is challenging, with many dividend cuts and cancellations, amongst companies where earnings are negatively impacted by Covid19, or where they have taken part in government support schemes.

Through our investment process, we focus on quality, growth and momentum. This means selecting companies with robust balance sheets, good liquidity and strong management teams. Those that are nimble, have many avenues to growth and are not fully reliant on macroeconomic drivers are also favoured. These factors will be critical if businesses are to succeed and also for the market to have confidence in individual firms. That said, we may see periods of investor optimism, where value stocks recover. However, we believe these will be short-lived in a world of low growth and high volatility.

Key people

Abby Glenie

Abby Glennie

Investment Director

Abby Glennie is an Investment Director at Aberdeen Standard Investments. She is responsible for UK Opportunities, Smaller Companies Pension Fund, and Bothwell Smaller Companies fund. Abby joined Standard Life in 2013 from Kames Capital where she was an Investment Analyst

Abby graduated with a joint 1st MA, in Economics and Finance from University of Aberdeen and is a CFA charterholder.

  • Abby Glennie

    Investment Director

    Abby Glennie is an Investment Director at Aberdeen Standard Investments. She is responsible for UK Opportunities, Smaller Companies Pension Fund, and Bothwell Smaller Companies fund. Abby joined Standard Life in 2013 from Kames Capital where she was an Investment Analyst

    Abby graduated with a joint 1st MA, in Economics and Finance from University of Aberdeen and is a CFA charterholder.

Robert Lister

Robert Lister

Chairman

Robert Lister, appointed in March 2012, is a non-executive director of Investec Wealth and Investment Limited. He has over 20 years' experience of investment management and formerly global head of equities at Dresdner Kleinwort and head of European equities at Barclays de Zoete Wedd.

David Fletcher

David Fletcher

Independent Non-Executive Director

David Fletcher, appointed on 1 August 2016, is Group Finance Director of Stonehage Fleming Family & Partners, a leading independently owned family office, having joined in 2002. Prior to that, he spent 20 years in investment banking with JPMorgan Chase, Robert Fleming & Co. and Baring Brothers & Co Limited, latterly focused on financial services in the UK (asset management and life insurance). He started his career with PricewaterhouseCoopers and is a chartered accountant. He is also an independent non-executive director of JP Morgan Claverhouse Investment Trust plc.

Degmar K Kershaw

Dagmar Kent Kershaw

Independent Non-Executive Director

Dagmar Kent Kershaw, appointed on 2 May 2017, has over 20 years’ investment experience specialising in credit and structured finance markets. She was Head of Credit Fund Management for Europe and Asia-Pacific at Intermediate Capital Group from 2008 until 2016. Prior to that she was the founder and Head of Structured Products at Prudential M&G and was also Head of Debt Private placements. Her previous experience in credit markets included roles at Scotiabank and NatWest Bank.

Barry Rose

Barry Rose

Independent Non-Executive Director

Barry Rose, appointed in March 2011, has a wide range of experience of investing in international markets. He is formerly a director of Scottish Provident Institution and Chief Executive of Scottish Provident UK. He is a non-executive director of Dimensional Imaging Limited and a director of Medical Research Scotland, a charity.

  • Robert Lister

    Chairman

    Robert Lister, appointed in March 2012, is a non-executive director of Investec Wealth and Investment Limited. He has over 20 years' experience of investment management and formerly global head of equities at Dresdner Kleinwort and head of European equities at Barclays de Zoete Wedd.

  • David Fletcher

    Independent Non-Executive Director

    David Fletcher, appointed on 1 August 2016, is Group Finance Director of Stonehage Fleming Family & Partners, a leading independently owned family office, having joined in 2002. Prior to that, he spent 20 years in investment banking with JPMorgan Chase, Robert Fleming & Co. and Baring Brothers & Co Limited, latterly focused on financial services in the UK (asset management and life insurance). He started his career with PricewaterhouseCoopers and is a chartered accountant. He is also an independent non-executive director of JP Morgan Claverhouse Investment Trust plc.

  • Dagmar Kent Kershaw

    Independent Non-Executive Director

    Dagmar Kent Kershaw, appointed on 2 May 2017, has over 20 years’ investment experience specialising in credit and structured finance markets. She was Head of Credit Fund Management for Europe and Asia-Pacific at Intermediate Capital Group from 2008 until 2016. Prior to that she was the founder and Head of Structured Products at Prudential M&G and was also Head of Debt Private placements. Her previous experience in credit markets included roles at Scotiabank and NatWest Bank.

  • Barry Rose

    Independent Non-Executive Director

    Barry Rose, appointed in March 2011, has a wide range of experience of investing in international markets. He is formerly a director of Scottish Provident Institution and Chief Executive of Scottish Provident UK. He is a non-executive director of Dimensional Imaging Limited and a director of Medical Research Scotland, a charity.

 

Financial calendar

Year End 31 December
Accounts Published May
Annual General Meeting April
Dividend Paid January, April, July, October

Trust details

Aberdeen Smaller Companies Income Trust PLC

Registered Office:
1 George Street,
Edinburgh
EH2 2LL

Registered in Scotland as an Investment Company Number SC137448

Launch Date: August 1992

Risk Warning
Risk warning
The value of investments and the income from them can go down as well as up and you may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Investors should review the relevant Key Information Document (KID) brochure prior to making an investment decision.
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