BLACKROCK SMALLER COMPANIES TRUST PLC All information is at31 July 2015 and unaudited. |
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Performance at month end is calculated on a capital only basis | |||||||
One | Three | One | Three | Five | |||
month | months | year | years | years | |||
% | % | % | % | % | |||
Net asset value* | 3.0 | 7.5 | 17.6 | 84.2 | 147.4 | ||
Share price* | 0.2 | 11.6 | 18.3 | 92.7 | 167.6 | ||
Numis ex Inv Companies + AIM | 0.8 | 2.5 | 4.8 | 44.4 | 60.0 | ||
*performance calculations based on a capital only NAV with debt at par, without income reinvested. Share price performance calculations exclude income reinvestment. | |||||||
Sources: BlackRock and Datastream | |||||||
At month end | |||||||
Net asset value Capital only (debt at par value): | 1049.21p | ||||||
Net asset value Capital only (debt at fair value): | 1038.66p | ||||||
Net asset value incl. Income (debt at par value)**: | 1061.89p | ||||||
Net asset value incl. Income (debt at fair value)**: | 1051.34p | ||||||
Share price | 930.50p | ||||||
Discount to Cum Income NAV (debt at par value): | 12.4% | ||||||
Discount to Cum Income NAV (debt at fair value): | 11.5% | ||||||
Net yield^^^: | 1.6% | ||||||
Gross assets^: | £548.3m | ||||||
Gearing range as a % of net assets: | 0-15% | ||||||
Net gearing including income (debt at par): | 5.6% | ||||||
2015 Ongoing charges ratio^^ | 0.7% | ||||||
2015 Ongoing charges ratio (including performance fees): | 1.0% | ||||||
Ordinary shares in issue#: | 47,879,792 | ||||||
**includes net revenue of 12.68p ^includes current year revenue ^^ As reported in the Annual Financial Report for the year ended 28 February 2015, the ongoing charges ratio is calculated as a percentage of net assets and using operating expenses, excluding performance fees, finance costs and taxation. ^^^Yield calculations are based on dividends announced in the last 12 months as at the date of release of this announcement, and comprise the interim dividend of 5.50 pence per share, (announced on 24 October 2014, ex-dividend date 6 November 2014) and the final dividend of 9.00 pence per share (announced on 27 April 2015, ex-dividend date 21 May 2015) #excludes 2,113,731 shares held in treasury. |
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Sector Weightings | % of portfolio | ||||||
Industrials | 25.8 | ||||||
Consumer Services | 20.0 | ||||||
Financials | 19.5 | ||||||
Consumer Goods | 9.8 | ||||||
Health Care | 8.0 | ||||||
Technology | 6.9 | ||||||
Basic Materials | 6.6 | ||||||
Oil & Gas | 2.8 | ||||||
Telecommunications | 0.6 | ||||||
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Total | 100.0 | ||||||
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Ten Largest Equity Investments | |||||||
Company | % of portfolio | ||||||
4imprint Group | 2.0 | ||||||
CVS Group | 2.0 | ||||||
Savills | 1.8 | ||||||
Workspace Group | 1.8 | ||||||
Lookers | 1.7 | ||||||
Ted Baker | 1.6 | ||||||
Topps Tiles | 1.6 | ||||||
Polar Capital Holdings | 1.6 | ||||||
Rathbone Brothers | 1.5 | ||||||
Headlam Group | 1.5 | ||||||
Commenting on the markets, Mike Prentis, representing the Investment Manager noted: During July the Company’s NAV per share rose by 3.0% on a capital only basis whilst the benchmark index rose by 0.8%; the FTSE 100 Index rose by 2.7%. Outperformance was derived mainly from stock selection with some benefit from sector allocation and gearing. The largest positive contributors to stock selection during the month were our holdings in Fever-tree Drinks, 4imprint and Quintain Estates. Fever-tree announced interim results with revenues up by 62% and EBITDA up by 68%; all territories are performing strongly. 4imprint also announced interims, with revenues up by 20%, all organic, and profit before tax up by 25%. Management remain confident for the full year. Quintain announced a bid for the company by an investment vehicle of the US private equity group Lone Star; the bid was at a 22.4% premium to the Quintain share price prior to the bid. There were no major detractors from relative outperformance during the month. We did not make any significant changes to the portfolio during the month. |
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12 August 2015 | |||||||
ENDS | |||||||
Latest information is available by typing www.blackrock.co.uk/brsc on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager’s website nor the contents of any website accessible from hyperlinks on the Manager’s website (or any other website) is incorporated into, or forms part of, this announcement. | |||||||