Interim Management Statement

RNS Number : 2168R

Aberdeen Smaller Co's High Inc Tst

15 November 2012

 



Aberdeen Smaller Companies High Income Trust PLC

Interim Management Statement - 3 months to 30 September 2012

To the members of Aberdeen Smaller Companies High Income Trust PLC

This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 July 2012 to 30 September 2012, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

Investment objective

To provide a high and growing dividend and capital growth from a portfolio invested principally in the ordinary shares of small companies and UK fixed income securities.

Benchmark

FTSE SmallCap Index (ex Investment Companies) total return

Twenty largest equity holdings at 30 September 2012

	%
Fenner	3.3
RPC	3.2
Dechra Pharmaceuticals	2.9
Wilmington	2.8
Bellway	2.8
Oxford Instruments	2.8
Morgan Sindall	2.8
The Restaurant Group	2.7
Berendsen	2.7
XP Power	2.6
Euromoney Institutional Investor	2.6
Interserve	2.4
Rathbone Brothers	2.3
Weir Group	2.2
Chesnara	2.1
Elementis	2.1
Chemring	2.1
BBA Aviation	2.0
Victrex	2.0
Helical	2.0
Total	50.4
Total number of investments	52

General description of Company's financial position at 30 September 2012

	£m
Gross Assets	45.5
Net assets	35.6
Equity Gearing	0.6%
Total Gearing	25.2%

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/09/2012
Share Price	133.0p	7.3	14.1	15.1	29.5	65.1	(18.3)
NAV	159.5p	4.3	12.4	9.2	25.2	61.5	(14.1)
FTSE SmallCap ex IC		3.4	11.0	6.5	21.4	15.2	(10.9)

Discrete performance (%)

	30/09/2012	30/09/2011	30/09/2010	30/09/2009	30/09/2008
Share Price	29.5	-5.8	35.3	2.3	-51.6
NAV A	25.2	-1.8	31.4	5.5	-49.6
FTSE SmallCap ex IC	21.4	-4.5	-0.6	25.5	-38.4

Total Return; NAV to NAV net income reinvested. GBP. Share price total return is on a mid-to-mid basis.

Dividend calculations are to reinvest as at the ex-dividend date. NAV returns based on NAVs with debt valued at par.

Source: Aberdeen Asset Managers Limited, Factset, and Morningstar

^A Excluding current year revenue.

The Company has declared a third interim dividend of 1.50p per share in respect of the year to 31 December 2012 payable on 26 October 2012 to shareholders on the register at close of business on 14 October 2012.

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 September 2012 and the date of publication of this interim management statement which would have a material impact on the financial position of the Company. For latest performance information, please refer to the Company's website, www.aberdeensmallercompanies.co.uk.

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise.  Investors may not get back the amount they originally invested.

For Aberdeen Smaller Companies High Income Trust PLC

Aberdeen Asset Management PLC, Secretary

14 November 2012

 

END

 

 

IMSDMMMMGKKGZZM