Total Ongoing Charges
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Aberforth Smaller Companies is a UK smaller companies fund with a strong value bias to its investment approach and attractive fee level. The investment partners, all of which are owners of both the firm and the funds that they manage, select a well-diversified portfolio which they typically look to own for the longer term. Patience is required due to the investment process, typically buying stocks when they are unloved by the wider market. Outperformance of the value style of investing within UK smaller companies will see Aberforth deliver strong relative performance versus its peers.
Aberforth Smaller Companies Trust plc is a United Kingdom-based closed-ended investment company. The Company's investment objective is to achieve a net asset value total return (with dividends reinvested) greater than that of the Numis Smaller Companies Index (Excluding Investment Companies) (NSCI (XIC)). It is focused on achieving its objective by investing in small United Kingdom quoted companies. The Company may, at time of purchase, invest up to 15% of its assets in any one security. Its investment portfolio comprises investment in sectors, which include oil and gas producers; oil equipment, services and distribution; chemicals; industrial metals and mining; mining; construction and materials; aerospace and defense; general industrials; electronic and electrical equipment; industrial engineering; industrial transportation; support services; food producers; leisure goods, and pharmaceuticals and biotechnology. Aberforth Partners LLP is the investment manager of the Company.
BRIEF: For the six months ended 30 June 2018, Aberforth Smaller Companies Trust plc revenues decreased 77% to £39.5M. Net income decreased 81% to £31.6M. Revenues reflect Movement in fair value decrease from £110M to -£100.4M. Net income also reflects Transaction costs increase of 41% to £2.1M (expense), Finance costs increase of 49% to £406K (expense). Dividend per share increased from £0.09 to £0.10.
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Headline performance can mask the true characteristics of a fund. Without fully understanding how a fund is managed, you may inadvertanly become exposed to an undesirable level of risk to your capital. Some funds carry a dilution levy which reduces the number of units realised on any initial investment as an initial charge. If this fund carries such a levy it should be detailed in the Key Investor Information Document (KIID), which we must provide and you should read before investing.
The graphs shown are supplied by an external data provider and may contain data that appears to preced the introduction of the clean unit class for this fund. In such cases, historial data has been synthesised at the entire discretion of that external provider as realistically as possible using historical data recorded against the previously available commission-paying version of the fund, adjusting for fees in the process.
The documents listed below are the latest versions made available to our data provider by the fund management group, but may not necessarily reflect the applicable charges that would be levied should you purchase this fund via Charles Stanley Direct. You should treat the charges and other figures shown in the 'Overview' tab as accurate.
Fund Provider Factsheet
The Fact Sheet is supplied on a monthly basis by the management group and provides limited information on the fund. Past performance data and a review of how the fund has performed are commonly featured.
Key Information Document
This document, issued by the product provider, provides key information about an investment product. The information is required by law to help potential investors understand the nature, risks, costs, potential gains and losses of the product and enable comparison with other products.
A report published by the Fund Management Group detailing the progress of the fund during the course of the previous 12 months. The information provided includes a financial statement for the group as a whole.
1,232,066 bytes PDF Document; last updated 31 Dec 2017
Semi Annual Report
Published periodically through the course of the financial year of the fund, the report provides an overview of the fund's performance and the prospects for the remainder of the year. Included are portfolio changes (i.e. which stocks have been bought and sold), and changes in the geographical breakdown during the course of the previous 12 months.
has managed this fund for 17 years and 7 months.
Euan joined Aberforth in May 2001 and became a Partner in May 2004. He is responsible for the following sectors - Automobiles & Parts; Industrial Engineering; Insurance; Leisure Goods; Software & Computer Services; Telecommunications; and Utilities.
has managed this fund for 7 years and 9 months.
Keith joined Aberforth in March 2011 and became a Partner in May 2014. He is responsible for the following sectors - Chemicals; Construction & Materials; Household Goods & Home Construction; and Real Estate.
has managed this fund for 28 years .
Richard joined Aberforth as a Founding Partner in May 1990. He is responsible for the following sectors - Alternative Energy; Electronic & Electrical Equipment; Food & Beverages; Forestry & Paper; General Industrials; Personal Goods; and Retailers.
has managed this fund for 28 years .
Alistair joined Aberforth as a Founding Partner in May 1990. He is responsible for the following sectors - Aerospace & Defence; Financial Services; Health Care; Media; Oil & Gas Producers; and Oil Equipment, Services & Distribution.
has managed this fund for 2 years and 8 months.
Chris joined Aberforth in April 2016 and became a Partner in May 2017. He is responsible for the following sectors - Banks; Industrial Metals & Mining; Industrial Transportation; Mining; and Travel & Leisure.