Edison issues review on abrdn UK Smaller Cos.

RNS Number : 3141W

abrdn UK Smaller Cos. Growth Trust

17 April 2023

 

London, UK, 17 April 2023

Edison issues review on abrdn UK Smaller Companies Growth Trust (AUSC)

abrdn UK Smaller Companies Growth Trust's lead manager is Abby Glennie following the retirement of Harry Nimmo at the end of 2022. She had been the trust's co-manager since mid-November 2020 and had worked closely with Nimmo since January 2016; Glennie manages the fund with investment director Amanda Yeaman. There is no change to the investment process, which has proved successful over multiple market cycles. Stocks are screened using the proprietary Matrix to highlight which companies fulfil the managers' strict quality, growth and momentum criteria. They are confident that over the long term, investors will benefit from the high-quality attributes of investee companies as they should have a greater ability to deliver against consensus earnings expectations, regardless of economic conditions.

AUSC's 13.6% discount is wider than its historical averages, which may provide an opportunity for new or existing shareholders. Over the last one, three, five and 10 years, the trust's average discounts range between 6.2% (10 years) and 12.2% (one year). There is considerable scope for AUSC to be afforded a higher valuation if its relative performance returns to its historical winning ways. It should be remembered that the strategy is unchanged, and the recent underperformance is a function of the change in market leadership from growth to value shares.

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