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Contact details

ManagerGroupLogo
Exchange House, Primrose Street, London, EC2A 2NY
0131 243 1330 (Fax Number)
0800 136 420 (Main Number)

investor.enquiries@fandc.com

Fund managers

* Peter Ewins»01-Aug-2005 to Present
Alexander Fleming»01-Jan-1996 to 31-Jul-2005
Andrew Barker»01-Jan-1975 to 01-Jan-2000


Investment objectives

To secure a high total return by investing in smaller companies worldwide

Key Information

Fund vs sector

  1y 3y
Position 20 / 36 8 / 35
Quartile 3 1

Fund ratings

FE Crown Rating: 5 FE
Crown Rating
(Quantitative)

Ratios

  1y 3y
Volatility 7.33 10.95
Alpha 1.80 6.40
Beta 0.96 1.02
Sharpe 0.69 1.53
InfoRatio 0.35 1.04
R2 0.63 0.67
Quartiles:   1  2   3  4   help with ratios
vs. Global»

Performance

performance chart
chart
    1y 3y 5y 12m-24m 24m-36m 36m-48m 48m-60m
+6.6 +73.5 +147.8 +30.2 +25.0 +1.6 +40.6
  NAV +7.4+71.6+110.1+29.4 +23.5-6.2+30.5
  Global +7.9+48.0+67.1+19.5+14.7-8.7+23.7
Share Price
 ShareTypePriceDatePrem/DiscDiluted NAVGearingDiv yield
EstimLast pub.NetGross
pdf F&C GLOBAL SMALLER COMPANIES UNIT 884.75 (p) 19-Dec-2014 +.20 879.22 875.46
18-Dec-2014
111 0.92 0.92
Capital structure & income
Share Type Exchange Nominal value Issued Market value (m) Wind-up date Splits News
F&C GLOBAL SMALLER COMPANIES UNIT LONDON 25 52,243,000 460.26 n/a n/a company announcements
Share identifiers: TIDM: FCS; SEDOL: 0017505; ISIN: GB0000175058
Detailed fund information
Fund type flag United Kingdom-registered Investment Trusts
Launched1889
Gross assets£509.3m / $795.3m
Sector Global
Asset ClassEquity
Own ISA wrapper Fund has ISA Wrapper help with ISA
Savings plan Fund has Savings Plan Minimum: £ 30.0 Monthly
Annual accountsannual (Click to order)
Last report / accounts15-Dec-2014
Last AGM24-Jul-2014
Next AGMJuly 2013
EGM09-Dec-2005
Stockbroker(s)JPMorgan Cazenove
Management contractManagement fee is 0.4% per annum, payable monthly in arrears, of net assets managed by the Manager (with debenture stock valued at market value). Investments made in third party collectives on strategic grounds are charged at a reduced rate of 0.25% per annum of the month end market value of those investments. A performance fee may be payable annually, equal to 10% of the value of net asset outperformance of the benchmark in the year. This is subject to a maximum absolute cap on the level of fees (including both the management fee and the performance fee) that the Manager can earn in any one year of 1% of average month-end net assets. Performance above this cap will be carried forward to the subsequent period for inclusion in the calculation of performance in that period. Any underperformance must also be carried forward, thus creating a high watermark. The management agreement is terminable on six months notice given by either party.
Borrowing limitBorrowing shall not exceed the aggregate of the nominal amount of the share capital of the company
Continuation / Wind-up provisionThe Fund takes and annual authority to issue up to 10% of its share capital. The Fund also has the authority to repurchase up to 14.99% of its own shares and has an unlimited life. The Board seeks to limit the discount to NAV at which the Company's shares trade close to 5%. Any shares bought back can either be cancelled or held in treasury, to be sold as and when the shares return to a premium or narrower discount than the weighted average discount at which they had been bought back and in any event at no more that a 5% discount to the prevailing net asset value per share.
Dividend policyn/a
Investment restrictionsn/a
Reconstruction proposaln/a
Settlement detailsn/a
Tax policyn/a
Peer groups
Region Asset Class Investment Focus Sector
Global Equity Mixed Global
Largest holdings, 31-Oct-2014
Holding (%) Rank Holding (%) Rank
M&G JAPAN SMALLER COMPANIES A INC GBP4.301UTILICO EMERGING MARKETS1.706
ABERDEEN GLOBAL JAPANESE SMALLER COMPANIES4.202COVANTA HLDG CORP1.007
SCOTTISH ORIENTAL SMALLER COS INV TRUST2.803ATLANTIC TELE NETWORK INC1.008
ABERDEEN GLOBAL ASIAN SMALLER COMPANIES2.704ALERE INC1.009
MANULIFE GLOBAL ASIAN SMALLER COMPANIES2.605GRANITE CONSTRUCTION1.0010
 Total22.30 
Regional weightings, 31-Oct-2014
Region (%) Rank  
USA 41.00 1 41.00% USA
UK 26.90 2 26.90% UK
Rest of World 11.50 3 11.50% Rest of World
Continental Europe 10.60 4 10.60% Continental Europe
Japan 8.50 5 8.50% Japan
Cash & Fixed Interest 1.50 6 1.50% Cash & Fixed Interest
Total100.00 


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

US Equities, 41.00%
41.0000% ofUS Equities
UK Equities, 26.90%
26.9000% ofUK Equities
International Equities, 11.50%
11.5000% ofInternational Equities
European Equities, 10.60%
10.6000% ofEuropean Equities
Japanese Equities, 8.50%
8.5000% ofJapanese Equities
Money Market, 1.50%
1.5000% ofMoney Market

Sector analysis

Charting

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