Interim Management Statement

RNS Number : 6614I

Scottish Oriental Smlr Co Tst PLC

17 June 2011

 

The Scottish Oriental Smaller Companies Trust PLC

Interim Management Statement

For the Three Month Period from 1 March 2011 to 31 May 2011

Investment Objective

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.

Performance Summary#

	As at  31 May  2011	As at 28 February 2011	Movement
Net asset value per share	634.1p	588.2p	7.8%
Share price	595.0p	540.0p	10.2%
Discount to NAV	6.2%	8.2%	-
Shares in issue	30,213,650	30,213,650	-
Shareholders' funds	£191.6m	£177.7m	7.8%
Market capitalisation	£179.8m	£163.2m	10.2%

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

Period Review and Material Events

Scottish Oriental's net asset value (NAV) rose by 7.8% over the period compared to increases of 7.6% in the MSCI AC Asia ex Japan Index and 5.1% in the MSCI AC Asia ex Japan Small Cap Index.

The Trust's outperformance relative to the MSCI AC Asia ex Japan Index was largely due to strong returns from a number of its holdings in Taiwan.

The share price rose by 10.2% to 595.0p over the period resulting in a narrowing of the discount to net asset value to 6.2%.

Additional Information

Up to date NAV and share price information is available from the Company's website www.scottishoriental.co.uk.

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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