Interim Management Statement

RNS Number : 7638T

Scottish Oriental Smlr Co Tst PLC

11 June 2009

 



THE SCOTTISH ORIENTAL SMALLER COMPANIES TRUST PLC

Interim Management Statement - 3 months to 31 May 2009

Scottish Oriental aims to achieve long term capital growth by investing in smaller Asian quoted companies with market capitalisations under US$1,000m, or the equivalent thereof, at the time of first investment.  Asia is deemed to include the Indian subcontinent but excludes Japan and Australasia.

• Scottish Oriental's net asset value (NAV) rose by 36.7% over the period compared to increases of 36.4% in the AC MSCI Asia ex Japan Index and 57.6% in the AC MSCI Asia ex Japan Small Cap Index.

• The Trust's underperformance relative to the AC MSCI Asia ex Japan Index was largely due to its underweight position in India and South Korea and its Malaysia and the Philippines.

• Smaller companies generally outperformed their larger counterparts over the three month period, with particularly strong returns in India.

• The share price rose 44.3% to 295p over the period resulting in a narrowing of the discount to net asset value to 9.5%.

General Information #

	31/5/2009	28/2/2009
NAV per share	326.07p	238.57p
Share price	295.00p	204.50p
Discount to NAV	9.5%	14.3%
Shares in issue	30,213,650	30,213,650
Net assets	£98.5m	£72.1m
Market capitalisation	£89.1m	£61.8m

# The information provided above is based on unaudited, capital only figures.

Up to date NAV and share price information is available on First State Investments website www.firststateinvestments.com.

For further information please contact:- Susie Rippingall at First State Investments in Hong Kong by telephone [phone]) or email ([e-mail]).

 

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