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Henderson Smllr Cos (HSL)

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Thursday 31 March, 2011

Henderson Smllr Cos

Interim Management Statement

RNS Number : 0491E
Henderson Smaller Cos Inv Tst PLC
31 March 2011
 



 

HENDERSON GLOBAL INVESTORS

 

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC

 

31 March 2011                                     

 

 

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC

 

Second Interim Management Statement for the year beginning 1 June 2010

 

The objective of The Henderson Smaller Companies Investment Trust plc is to maximise shareholders' total returns by investing in smaller companies that are quoted in the United Kingdom.  The benchmark is the Hoare Govett Smaller Companies Index (excluding investment companies).  The Manager is Henderson Global Investors Limited. Information about the Company can be found on the Manager's website www.itshenderson.com or www.hendersonsmallercompanies.com.

 

Review of the second six month period, beginning 1 December 2010

Between 30 November 2010 and 28 February 2011 the net asset value per share (including current financial year revenue items) increased by 14.8%, while the Company's benchmark increased by 11.8% on a total return basis.  The Company has maintained a modest level of gearing.  As at 28 February 2011 the Company had total borrowings of £23 million, representing gearing of 9%.

 

The share price at 28 February 2011 was 306.88p, giving the Company a market capitalisation of £229.9 million.  Since 30 November 2010 the Company has not bought back any of its ordinary shares.  The number of ordinary shares in issue is currently 74,906,796. 

 

There are no other material events or transactions to report.

 

Net Asset Value

As at close of business on 28 February 2011, the unaudited net asset value per share, calculated in accordance with the AIC (Association of Investment Companies) formula, including current financial year revenue items, was 379.62p.  The unaudited net asset value per share, including current financial year revenue items but calculated by valuing the Company's debenture stock at market value, was 374.43p. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC

 

Second Interim Management Statement for the year beginning 1 June 2010

 

Performance

The Company's performance, on a total return basis, in the periods of three months and three years ended 28 February 2011 were as follows:

 


3 months to 28.02.11

3 years to 28.02.11

Net asset value per share

14.8%

31.1%

Share price

15.8%

26.4%

Benchmark*

11.8%

29.8%

 

*The benchmark is the Hoare Govett Smaller Companies Index (excluding investment companies).

 

 

Largest Investments

The top twenty holdings as at 28 February 2011 were:

Informa

Spectris

WSP Group

Croda International

Domino Printing

e2v technologies

Victrex

Premier Oil

Bellway

Intermediate Capital

Carillion

Melrose

WS Atkins

Oxford Instruments

Northgate

Taylor Wimpey

Balfour Beatty

Rotork

Chemring

Paragon Group

 

These investments represent 41.1% of the total portfolio valuation at 28 February 2011

of £309.5 million.

 

 



 

 

THE HENDERSON SMALLER COMPANIES INVESTMENT TRUST PLC

 

Second Interim Management Statement for the year beginning 1 June 2010

 

 

For further information, please contact:

 

Neil Hermon

Fund Manager

The Henderson Smaller Companies Investment Trust plc

Telephone: 020 7818 4351                                                      

 

 

James de Sausmarez

Director and Head of Investment Trusts                                   

Henderson Global Investors                                                     

Telephone: 020 7818 3349

 

 

- ENDS -

 


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