Interim Management Statement

RNS Number : 2836T

Aberdeen Smaller Co's High Inc Tst

18 November 2013

 



Aberdeen Smaller Companies High Income Trust PLC

Interim Management Statement - 3 months to 30 September 2013

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 2013 to 30 September 2013, 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

Ten largest equity holdings at 30 September 2013

	%
RPC	3.5
Fenner	3.4
Wilmington	3.4
Berendsen	3.1
XP Power	3.0
Euromoney Institutional Investor	3.0
Dechra Pharmaceuticals	2.9
Morgan Sindall	2.9
Interserve	2.8
Close Brothers	2.8
Total	30.8
Total number of investments	52

General description of Company's financial position at 30 September 2013

	£'000
Gross Assets	56,235
Net assets	47,869
Equity Gearing	3.1%
Net Gearing	17.5%

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/09/2013
Share Price	212.5p	4.8	15.2	17.7	65.8	102.3	180.1
NAV^	216.5p	3.2	14.5	13.9	39.2	70.6	133.0
FTSE SmallCap ex IC		3.4	16.1	20.6	44.9	68.0	109.5

Discrete performance (%)

	30/09/2013	30/09/2012	30/09/2011	30/09/2010	30/09/2009
Share Price	65.8	29.5	-5.8	35.3	2.3
NAV^	39.2	24.7	-1.8	32.9	2.7
FTSE SmallCap ex IC	44.9	21.4	-4.5	-0.6	25.5

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

^Excluding current year revenue.

The Company has declared a third interim dividend of 1.5p per share in respect of the year to 31 December 2013 payable on 26 October 2013 to shareholders on the register at close of business on 5 October 2013.

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 September 2013 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

18 November 2013

 

END

 

 

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