Edison issues review on Scottish Oriental Smlr Co

RNS Number : 2409I

Scottish Oriental Smlr Co Tst PLC

22 November 2018

 

London, UK, 22 November 2018

Edison issues review on Scottish Oriental Smaller Companies (SST)

Scottish Oriental Smaller Companies Trust (SST) aims to deliver long-term capital growth from investing in smaller companies listed in Asia ex-Japan. The investment approach is bottom-up to find quality companies with sustainable growth that are reasonably valued. Unconstrained by the benchmark, the well-diversified portfolio of c 60 stocks represents the manager's highest-conviction ideas, with a preference for domestically oriented businesses in less-developed economies, which can benefit from structural growth drivers. SST has a strong, long-term performance track record and over 10 years has delivered an annualised NAV total return of 18.5%. The trust's current 14.9% discount to cum-income NAV is deeper than its three-year average, in part reflecting a more risk-averse market sentiment. There is scope for this discount to narrow should sentiment towards Asian equities, and small-caps in particular, improve.

SST's current 14.9% discount to cum-income NAV is wider than the three-year average of 12.9%. The sharp correction in Asian equities has also afflicted most of SST's peers and discounts have widened across the group. There may be scope for the discount to narrow should sentiment towards Asian equities improve.

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