Interim Management Statement

RNS Number : 0784U

Scottish Oriental Smlr Co Tst PLC

20 December 2012

 

The Scottish Oriental Smaller Companies Trust PLC

Interim Management Statement

For the Three Month Period from 31 August 2012 to 30 November 2012

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  30 November  2012	As at 31 August 2012	Movement
Net asset value per share ("NAV")	722.1p	652.9p	10.6%
Share price	713.0p	603.0p	18.2%
Discount to NAV	1.3%	7.6%	-
Shares in issue	30,213,650	30,213,650	-
Shareholders' funds	£218.2m	£197.3m	10.6%
Market capitalisation	£215.4m	£182.2m	18.2%

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

Period Review and Material Events

Scottish Oriental's NAV rose by 10.6% over the period compared to rises of 8.7% in the MSCI AC Asia ex Japan Index and 7.6% in the MSCI AC Asia ex Japan Small Cap Index.

The Trust's outperformance relative to the MSCI AC Asia ex Japan Index was mainly due to stock selection with particularly strong returns achieved by two of the Trust's larger holdings, Ezion Holdings in Singapore and Aeon Thana Sinsap in Thailand.

The share price rose by 18.2% to 713.0p over the period resulting in a narrowing of the discount to net asset value to 1.3%.

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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