Edison issues review on StandardLifeUK Small.Co's

RNS Number : 2998J

Standard Life UK Small.Co's Tst PLC

28 March 2018

 

London, UK, 28 March 2018

Edison issues review on Standard Life UK Smaller Companies (SLS)

Standard Life UK Smaller Companies Trust (SLS) is managed by Harry Nimmo, who aims to generate long-term capital growth from a portfolio of smaller-cap UK equities. The trust has a strong performance track record; it has meaningfully outpaced its benchmark over one, three, five and 10 years. SLS has also outperformed the majority of its peers over these periods, ranking second out of 10 funds over one and three years, fifth over five years and first over 10 years. The trust has recently changed its benchmark to include AIM stocks, reflecting SLS's increasing exposure to this area of the UK stock market, as the board and manager consider the quality of these companies has improved in recent years.

SLS's board actively manages the discount, aiming to keep it below 8% in normal market conditions. This is primarily via share repurchases, although there are discretionary six-monthly tender offers. The trust's share price is now close to par, with the discount having been in a narrowing range over the last 18 months. SLS's annual dividend has grown for the last 10 consecutive years, compounding at an annual rate of c 24%. Its current dividend yield is 1.4%.

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