Portfolio Update

F&C Global Smaller Companies PLC
19 December 2005

F&C Global Smaller Companies PLC

Portfolio Update

Further to the announcement earlier today of the Interim Statement of Results,
and the completion of the Tender Offer, the Company is providing an update on
the structure of its portfolio as at 16 December 2005.



Top ten equity holdings                       %

Teesland                                     1.0
Aveva                                        0.8
Olam International                           0.8
Detica                                       0.8
Showa Aircraft                               0.8
Kingspan                                     0.7
CLS Holdings                                 0.7
Utilico Emerging Markets                     0.7
Helphire                                     0.7
Meggitt                                      0.7

Total                                        7.7





Geographical distribution of assets (excluding loans)


                                               %

UK                                           39.7
USA                                          25.5
Europe                                       13.5
Japan                                        11.7
Pacific (ex Japan)                            6.1
Cash & fixed interest                         3.0
Other                                         0.5

Total                                       100.0





Actual gearing                                105

Potential gearing                             110


                      This information is provided by RNS
            The company news service from the London Stock Exchange