Aberdeen Smaller Companies Income Trust PLC

Hunting smaller companies for a stronger income


Morningstar rating:
5 out of 5

Daily prices as of 15 Jun 2021

Share Price 354.00p

Estimated NAV cum income 410.79p

Estimated NAV ex income 409.87p

Dividend Yield 2.4%

Premium / (Discount) to NAV cum income -13.8%

Premium / (Discount) to NAV ex income -13.6%

Latest news

An update from our co-managers, Abby Glennie and Amanda Yeaman - 21 May 2021

We are increasingly optimistic that the value rally may have passed, at least for now. History suggests that these rallies rarely last much beyond six months and we are most ofthe way t hrough this period, at the time of this report. The strength of the market correction was also very sharp, which was not surprising given how polarised markets had become and the specific effect of Covid-19 lockdowns. We believe there are a number of hurdles for economies to overcome in the following months. In the UK, this involves the unwinding of the furlough scheme and the effect on employment. Many of the Covid-19 losers have seen their share prices recover, pricing in a more normal environment; in this way, these stocks do not have much scope for further gains. We continue to believe that companies who are resilient, reliable and are able to grow in a consistent manner, despite the economic backdrop, will be well rewarded. The Trust focuses on these types of businesses, ones with a strong balance sheet, great management, the ability to invest and acquire and where the business has many levers for growth. We are comfortable with the outlook for earnings growth potential, following a strong reporting season.

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.

Amanda Yeaman

Amanda Yeaman

Investment Manager

Amanda is an Investment Manager at Aberdeen Standard Investments. Amanda is responsible for providing research support predominantly for our UK Smaller Companies strategy but also to the wider Smaller Companies team. Amanda Joined the company in June 2019 from Investec Securities where she was a small and mid-cap equity sales specialist.

  • 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.

  • Amanda Yeaman

    Amanda Yeaman

    Investment Manager

    Amanda is an Investment Manager at Aberdeen Standard Investments. Amanda is responsible for providing research support predominantly for our UK Smaller Companies strategy but also to the wider Smaller Companies team. Amanda Joined the company in June 2019 from Investec Securities where she was a small and mid-cap equity sales specialist.

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

    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.

 

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. Please refer to the relevant Key Information Document (KID) prior to making an investment decision. Please be aware of scams that can affect investors.