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Contact details

14 Melville Street, Edinburgh, EH3 7NS
0845 608 0940 (Dealing)
0131 220 0735 (Fax Number)
0131 220 0733 (Main Number)

Fund managers

* Alistair Whyte»10-Dec-1990 to Present
* Richard Newbery»10-Dec-1990 to Present
* Andrew Bamford»23-Apr-2001 to Present
* Euan Macdonald»14-May-2001 to Present
* Keith Muir»03-Mar-2011 to Present
David T. M. Ross»10-Dec-1990 to 31-Mar-2014
John Evans»10-Dec-1990 to 31-Aug-2011
David Warnock»10-Dec-1990 to 31-Dec-2008

Investment objectives

To achieve a total return greater than on the Numis Smaller Companies Index (Excluding Investment Companies) [NSCI (XIC)] over the long term by investing in a diversified portfolio of small UK quoted companies.

Key Information

Fund vs sector

  1y 3y
Position 7 / 16 3 / 16
Quartile 2 1

Fund ratings

FE Crown Rating: 2 FE
Crown Rating


  1y 3y
Volatility 19.67 19.42
Alpha 10.32 0.78
Beta 1.86 1.48
Sharpe 0.22 1.39
InfoRatio 0.62 0.79
R2 0.65 0.73
Quartiles:   1  2   3  4   help with ratios
vs. UK Smaller Companies»


performance chart
    1y 3y 5y 12m-24m 24m-36m 36m-48m 48m-60m
+0.9 +122.8 +124.8 +58.4 +39.5 -17.1 +21.6
  NAV -0.6+99.9+112.4+50.8 +33.3-14.3+24.0
  UK Smaller Companies -4.2+74.4+108.5+41.8+28.4-6.7+28.1
Share Price
 SharePriceDatePrem/DiscDiluted NAVGearingDiv yield
EstimLast pub.NetGross
pdf ABERFORTH SMALLER COMPANIES TRUST PLC ORD 1056.00 (p) 18-Dec-2014 -6.64 1103.28 1105.70
103 2.26 2.26
Capital structure & income
Share Type Exchange Nominal value Issued Market value (m) Wind-up date Splits News
ABERFORTH SMALLER COMPANIES TRUST PLC ORD UNIT LONDON 1 95,345,000 982.05 n/a n/a company announcements
Share identifiers: TIDM: ASL; SEDOL: 0006655; ISIN: GB0000066554
Detailed fund information
Fund type flag United Kingdom-registered Investment Trusts
Gross assets£1,084.7m / $1,696.8m
Sector UK Smaller Companies
Asset ClassEquity
Own ISA wrapper Fund has no ISA Wrapper help with ISA
Savings plan Fund has no Savings Plan 
Annual accountsn/a
Last report / accounts25-Jul-2014
Last AGM27-Feb-2014
Next AGMFebruary 2015
Management contractAberforth Partners are Managers and Secretaries to the Company and both these contracts are terminable on 6 months' notice by either party. On 18-Jul-13, it was agreed to amend the basis of the quarterly fee, backdated to 01-Jan-13, to: 1) 0.2% of the new assets of the Company up to GBP800m; plus 2) 0.175% of the new assets of the Company between GBP800m and GBP1bn (if any); plus 3) 0.15% of the new assets of the Company greater than GBP1bn (if any). The secretarial fee is adjusted annually in line with the Retail Price Index and is subject to VAT which is currently irrecoverable by the Company. There are no long-term incentive schemes.
Borrowing limitn/a
Continuation / Wind-up provisionAn Ordinary Resolution will be proposed at the Annual General Meeting in 2008 (and, if passed, at every third subsequent Annual General Meeting) that the Company continues to manage its affairs as an investment trust.
Dividend policyn/a
Investment restrictionsn/a
Reconstruction proposaln/a
Settlement detailsn/a
Tax policyn/a
Peer groups
Region Asset Class Investment Focus Sector
United Kingdom Equity Mixed UK Smaller Companies
Largest holdings, 30-Nov-2014
Holding (%) Rank Holding (%) Rank
Regional weightings, 30-Nov-2014
Region (%) Rank  
UK 100.00 1 100.00% UK
Sector weightings, 30-Nov-2014
Sector (%) Rank  
Industrials 33.00 1 33.00% Industrials
Consumer Services 24.00 2 24.00% Consumer Services
Financials 16.00 3 16.00% Financials
Technology 9.00 4 9.00% Technology
Consumer Goods 6.00 5 6.00% Consumer Goods
Oil & Gas 4.00 6 4.00% Oil & Gas
Health Care 4.00 7 4.00% Health Care
Basic Materials 3.00 8 3.00% Basic Materials
Telecommunications 1.00 9 1.00% Telecommunications

All prices in Pence Sterling (GBX) unless otherwise specified. Price total return performance figures are calculated using closing mid prices and with net income (dividends) reinvested. NAV total return performance figures are calculated using fully diluted (where applicable) daily estimated NAV figures from Thomson Financial Datastream and with gross income (dividends) reinvested.

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Asset allocation

UK Equities, 100.00%
100.0000% ofUK Equities

Sector analysis


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