Interim Management Statement

RNS Number : 7479H

Standard Life UK Small.Co's Tst PLC

07 November 2008

 



Standard Life UK Smaller Companies Trust plc

Interim Management Statement

Three months ended 30 September 2008

To the members of Standard Life UK Smaller Companies Trust plc ('the Company')

This Interim Management Statement ('IMS') 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 IMS relates to the period from 1 July 2008 to 30 September 2008 and contains information that covers this period, and up to the date of publication of this IMS, unless otherwise specified.

Investment objective

The objective of Standard Life UK Smaller Companies Trust plc is to achieve long term capital growth by investment in UK quoted smaller companies.

Benchmark

Extended Hoare Govett Smaller Companies Index (excluding Investment Trusts).

Material events

Following shareholder approval at the Annual General Meeting held on 15 October 2008, a final dividend of 1.00 pence per ordinary share, and a special dividend of 0.60 pence per ordinary share, were paid on 24 October 2008 to shareholders on the register as at 26 September 2008.

Ten largest equity holdings as at 30 September 2008 and Transactions in Period

Ranking as at 30 September 2008	Transaction in period	Ranking as at 30 June 2008	Investment	Market Value at 30 September 2008 (£)	%
1	Sale	1	ASOS	2,106,348	4.3
2	-	8	Telecom Plus	1,650,825	3.4
3	-	7	Abcam	1,621,834	3.3
4	Sale	2	Aveva Group	1,587,153	3.2
5	-	3	Chloride Group	1,545,646	3.2
6	-	6	Connaught	1,359,079	2.8
7	-	-	Craneware	1,205,057	2.5
8	-	9	Chemring Group	1,206,548	2.5
9	-	-	Domino's Pizza	1,143,620	2.3
10	-	-	Paypoint	1,127,449	2.3
			Assets in largest ten holdings		29.8

Total assets breakdown as at 30 September 2008

	%
Industrials	22.8
Consumer Services	19.2
Technology	18.7
Financials	5.0
Healthcare	12.2
Oil & Gas	7.1
Basic Materials	4.6
Consumer Goods	1.5
Utilities	2.2
Total	100.0

General description of Company's financial position and performance as at 30 September 2008

Gross Assets	£39m
Discount	16.97%
Current equity gearing	-1.0% (net cash position in place of gearing)

Source: Standard Life Investments, Bloomberg and Thomson Datastream

Cumulative performance (%)*

	As at  30 September 2008	3 months	1 year	3 years	5 years
Share price	100p	-16.3	-15.4	29.9	111.6
Net asset value	120.44p	-12.8	-12.0	28.5	83.5
Benchmark index#		-14.2	-32.3	-12.5	25.3

*Total Return; Net Income Reinvested, GBP; the percentage growth figures are calculated over periods to 30 September 2008 and exclude retained revenue.

# Extended Hoare Govett Smaller Companies Index (excluding Investment Companies)

Source: Standard Life Investments, Bloomberg and Thomson Datastream

The Board is not aware of any significant events or transactions which have occurred between 30 September 2008 and the date of publication of this IMS, other than those referred to above, which would have a material impact on the financial position of the Company. 

For the Manager's current Investment Review & Outlook, please refer to the latest Quarterly Update which is available via the Company's website, www.standardlifeinvestments.co.uk/its.

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 Standard Life UK Smaller Companies Trust plc

Aberdeen Asset Management PLC, Secretary

7 November 2008

 

END

 

 

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